Pete Fairbanks, arguably the best closer available on baseball’s free agent market, has a new home — not far from his last.
Fairbanks agreed to a $13 million contract with the Miami Marlins, according to multiple reports Wednesday. Will Sammon of The Athletic was first to report the agreement.
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Fairbanks, 32, has the most recent closing experience — and ample postseason experience — relative to the other relief pitchers left in free agency. Over the last three seasons he’s saved 75 games for the Rays.
In seven MLB seasons (2019-25), Fairbanks is 20-24 with a 3.19 ERA and 90 saves. He’s also made 12 postseason appearances, including three in the 2020 World Series, recording three saves with a 3.60 ERA.
The Rays declined Fairbanks’ $11 million option for 2026. For a time, it appeared questionable whether he could match or exceed that number in free agency. As Sammon points out, teams might have been wary of Fairbanks’ injury history. From 2021 through 2024, he made seven trips to the injured list.
In the end, Fairbanks got to remain in Florida — with a Marlins team that actually came closer to reaching the postseason in 2025 than the Rays. The Marlins finished a surprising 79-83 in the National League East; the Rays went 77-85.
Edwin Diaz, Devin Williams, Kenley Jansen, Robert Suarez, Raisel Iglesias, Kyle Finnegan and Ryan Helsley headlined a robust free agent market for closers. All signed lucrative contracts in the first six weeks of free agency.
With Fairbanks off the board, few options remain for teams in the market for an established closer. Seranthony Dominguez, Michael Kopech and Craig Kimbrel all have closing experience, but come with question marks. Luis Garcia, Andrew Chafin and Justin Wilson have long track records as set-up men, but lack closing experience.
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