The deal includes $8.5 million guaranteed with a $500,000 signing bonus. Rasmussen can make up to $28 million as part of the deal. The righty is set to make $2 million this upcoming season and $5.5 million in 2026.
The extension also includes a 2027 club option worth $8 million. Rasmussen can increase his salary for 2027 to $20 million depending on incentives (innings pitched, health).
Rasmussen was part of the Willy Adames trade with the Milwaukee Brewers in 2021 and has spent the past four seasons with the Rays. After a rough start to his career with the Brewers, Rasmussen has thrown a 2.72 ERA with the ways in 99 games (50 starts).
Unfortunately, Rasmussen has been bitten by the injury bug more than once.
He's undergone Tommy John surgery twice in his career and missed most of this past season after a season-ending internal brace procedure on his right elbow in July 2023.
Despite his injuries, Rasmussen still dominated for the Rays in his 16 appearances last season throwing a 2.83 ERA. He struck out 35 batters and only walked six while giving up 25 hits in 28.2 innings.