11:09am: It’s a $13MM guarantee, reports Mark Feinsand of MLB.com.
10:56am: It’s a one-year contract with a mutual option, reports Marc Topkin of The Tampa Bay Times. Mutual options are essentially never exercised, so that provision exists solely to delay the payment of a portion of the guarantee to the end of the season in the form of an option buyout.
10:39am: The Rays and veteran righty Nick Martinez are in agreement on a deal, per Jon Heyman and Joel Sherman of the New York Post. The Boras Corporation client’s deal is pending a physical.
Martinez is the second free agent swingman whom the Rays have added this offseason. They signed lefty Steven Matz to a two-year, $15MM deal at the Winter Meetings. Matz was already expected to win a spot at the back of the rotation. Tampa Bay subsequently traded Shane Baz to the Orioles, leaving another rotation spot available.
The 35-year-old Martinez enters camp as the favorite to work as Kevin Cash’s fifth starter. He lands behind Drew Rasmussen, Ryan Pepiot, Shane McClanahan and Matz on the depth chart. That could push Ian Seymour and Joe Boyle back to Triple-A Durham while keeping the out-of-options Yoendrys Gómez in a long relief role for which he’s better suited. They’ll need way more than five starters to navigate the season given the injury histories for Rasmussen and McClanahan — the latter of whom hasn’t thrown an MLB pitch since August 2023 and will be on some kind of innings count.
Matz and Martinez each have ample experience working out of the bullpen and could transition to relief if Seymour or top prospect Brody Hopkins force their way into the rotation during the season. The versatility has been a huge selling point for Martinez, in particular. He can start, work multiple innings out of the bullpen, or pitch short relief in high-leverage situations as needed.
Martinez has found a strong second act in his 30s after spending four seasons in Japan. This will be his fifth season since he returned to MLB on a deal with the Padres over the 2021-22 offseason. He posted a sub-4.00 earned run average in each of the first three years, working mostly out of the bullpen. Martinez spent the first two seasons in San Diego before signing a two-year free agent contract with Cincinnati. He had the best year of his career in 2024, firing 142 1/3 innings of 3.10 ERA ball while starting 16 of 42 appearances.
More to come.
