Marlins ink Fairbanks to 1-year deal reportedly worth $13M

The Miami Marlins announced the signing of right-handed reliever Pete Fairbanks to a one-year contract.

Fairbanks' deal will pay him a base salary of $13 million in 2026, sources told ESPN's Jeff Passan. The agreement also includes a $1-million signing bonus, and he can earn an additional $1 million in incentives based on appearances, MLB.com's Mark Feinsand adds. If the Marlins trade Fairbanks, he'll reportedly receive an additional $500,000.

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.