MIAMI (AP) — The Miami Marlins finalized a $13 million, one-year deal with right-handed reliever Pete Fairbanks on Sunday.
He gets a $1 million signing bonus, a $12 million salary and the chance to earn $1 million in performance bonuses for appearances: $100,000 for 30, $200,000 for 40, $300,000 for 50 ad $400,000 for 60. If traded, he would receive a one-time $500,000 assignment bonus from the acquiring team.
The 32-year-old made a career-high 61 appearances with Tampa Bay last season, going 4-5 with a 2.83 ERA. He set a career high with 27 saves in 32 opportunities, while giving up seven home runs and 45 hits in 60 1/3 innings.
Fairbanks also finished last season ranked third among American League relievers in games finished (48) and seventh in saves.
He spent the past seven seasons with the Rays and went 20-22 with a 2.98 ERA. He recorded 96 walks and 317 strikeouts in 267 appearances. He made 12 postseason appearances with the Rays, including nine during the club’s World Series appearance in 2020.
The Rays declined an $11 million option on Fairbanks last month, allowing their closer to become a free agent. Fairbanks got a $1 million buyout.