Kim Klement-Imagn Images

Rays Former Star Closer Predicted To Sign With Cubs in Free Agency

Originally posted on Tampa Bay Rays on SI
By Kenneth Teape | Last updated Nov 16, 2025 7:00 PM ET

The Tampa Bay Rays came into the offseason with a few spots on their roster that they were looking to upgrade. Catcher, shortstop, outfield and starting pitching were all mentioned as possible areas the team was going to seek upgrades.

Early in the offseason, another void was created on the roster. The Rays surprised a lot of people when they announced they were declining the club option they had on closer Pete Fairbanks.

Instead of exercising the $11 million option they had on him, the team opted to pay a $1 million buyout, making him a free agent a year early.

It was a decision that Tampa Bay took right to the deadline. They canvassed the league to assess Fairbanks' value, and when they concluded that trading him would be a challenge, they opted to cut their losses and avoid being saddled with that contract.

While interest in him wasn’t very high on the trade market, that isn’t expected to be the case in free agency. Plenty of teams are expected to pursue him, with some heavy hitters expected to be in the mix.

Pete Fairbanks predicted to draw considerable interest in free agency

Several of the Rays’ American League East rivals have been tossed around as landing spots. The Boston Red Sox, Baltimore Orioles and Toronto Blue Jays all make sense.

The two-time defending World Series champion Los Angeles Dodgers are thought to have Fairbanks as their No. 1 target for a bullpen upgrade this winter.

His market is expected to be robust, and another team to keep an eye on is the Chicago Cubs. They have been predicted to sign the veteran right-hander by Anthony Franco of MLB Trade Rumors.

Just as has been the case in recent years, the bullpen was an issue at times during the 2025 campaign for the Cubs. Daniel Palencia emerged as the season went along as their closer, but they need more backend help.

Pete Fairbanks would be great fit with Cubs

Ryan Pressly, who was acquired in a trade from the Houston Astros, struggled mightily and was eventually designated for assignment. Porter Hodge, who was excellent as a rookie in 2024, took a step back in 2025.

Brad Keller is a free agent. Andrew Kittredge was traded back to the Orioles. Drew Pomeranz and Chris Flexen are both back on the market as free agents as well.

Fairbanks would be a great addition to the Chicago bullpen as a reliable late-game option who can thrive in any role. Compared to the other top relief pitchers available, he presents a ton of value because of his projected contract.

While Edwin Diaz, Devin Williams and Robert Suarez are all expected to receive contracts that pay north of $12 million annually, early projections have Fairbanks earning under $20 million in total.