Drew Rasmussen has finalized a two-year contract with the Tampa Bay Rays worth $8.5 million, successfully avoiding salary arbitration. The contract includes an option that could increase the total value to $28 million across three years. The agreement was announced by Rasmussen’s agency, Beverly Hills Sports Council, just days ahead of the scheduled arbitration discussions.

The 29-year-old right-hander underwent a third elbow surgery in July 2023 but made a swift return to the mound on August 7. During his brief stint following recovery, he recorded a 2.82 ERA with a 0-2 record in four starts and 12 relief appearances, showcasing his ability with a 97.4 mph four-seam fastball.

Throughout his five-year career, Rasmussen boasts a 20-12 record with a 2.95 ERA over 50 starts and 44 relief appearances, primarily with the Milwaukee Brewers and the Rays. He will remain under contract with the Rays until at least the end of the 2026 season, provided the option is not exercised. Meanwhile, several other Rays players are still in arbitration, including Shane Baz and Zack Littell.