Report: Marlins, Fairbanks agree to 1-year, $13M deal
The Miami Marlins and right-handed reliever Pete Fairbanks have agreed to a one-year, $13-million contract, sources told ESPN's Jeff Passan.
The deal includes a $1-million bonus, and Fairbanks can earn an additional $1 million in incentives based on appearances, MLB.com's Mark Feinsand adds. If Fairbanks is traded, he'll receive an additional $500K.
The 31-year-old spent the previous seven seasons with the Tampa Bay Rays. The team turned down an $11-million option to retain Fairbanks after he posted a 2.83 ERA and 3.63 FIP over 60 1/3 innings last year while recording 27 saves.
Since breaking into the majors with the Texas Rangers in 2019, Fairbanks possesses a 3.19 ERA and 3.10 FIP working exclusively as a reliever.
Over the past two campaigns, Fairbanks has seen a marked decrease in strikeout rate. From 2019-23, he was striking out 33.9% of opposing batters. However, from 2024-25, he managed a 24% K rate.
Fairbanks is the latest free-agent reliever to sign in what's been a busy offseason for closers. Edwin Díaz, Robert Suarez, Devin Williams, Ryan Helsley, Raisel Iglesias, Kenley Jansen, Luke Weaver, Tyler Rogers, and Brad Keller have all landed new contracts, among others.