The Miami Marlins have reached an agreement with free-agent reliever Pete Fairbanks on a one-year, $13 million contract, sources report. The deal, pending a physical, includes a $1 million signing bonus and up to $1 million in performance incentives, marking the highest annual salary the team has ever given a relief pitcher. Fairbanks, previously with the Tampa Bay Rays, reunites with Marlins executive Peter Bendix and bolsters a bullpen hit by injury.
The Miami Marlins addressed a key need in their bullpen by agreeing to terms with right-handed reliever Pete Fairbanks on a one-year, $13 million contract, according to multiple reports on Wednesday. The pact includes a $1 million signing bonus, another $1 million in incentives tied to appearances, and a $500,000 acquisition bonus if Fairbanks is traded. Pending a physical, the team has not yet confirmed the deal, which aligns with Miami's strategy of pursuing short-term contracts this offseason.
This marks the largest annual value for a Marlins reliever, surpassing the $9 million average Heath Bell received in his three-year, $27 million deal from 2012-14. Fairbanks becomes the second free agent signed by Miami this winter, following first baseman Christopher Morel. The move comes just days after the Marlins announced that high-leverage reliever Ronny Henriquez will miss the entire 2026 season due to a hybrid Tommy John surgery and internal brace procedure on his elbow.
Fairbanks, who turned 32 last week, entered free agency when the Rays declined his $11 million club option for 2026, opting for a $1 million buyout. Over six-plus seasons with Tampa Bay, he appeared in 267 games, notched 90 saves (third in franchise history), and posted a 2.87 ERA from 2020-25, striking out 11.2 batters per nine innings while limiting opponents to a .584 OPS. In 2025, he set career highs with 61 appearances and 60 1/3 innings, achieving a 2.83 ERA and 27 saves in 32 chances.
Despite a decline in strikeout rate from 37.0% in 2023 to 24.2% in 2025, Fairbanks maintained elite fastball velocity at 97.3 mph and excelled at suppressing hard contact (93rd-percentile barrel rate). His primary pitches include a four-seamer and slider, with occasional changeups and cutters. Injuries sidelined him in each season from 2021-24, but he stayed healthy last year.
The signing reunites Fairbanks with Marlins president of baseball operations Peter Bendix, a former Rays executive. Miami's 2025 bullpen ranked 22nd in ERA (4.28) and 25th in strikeouts per nine (8.21). Other late-inning options include Anthony Bender, Calvin Faucher, and Tyler Phillips. Fairbanks could serve as closer or in high-leverage situations for a team seeking to improve its relief corps.