Nick Martinez Opts Out of Contract with Rays

Nick Martinez has chosen not to exercise his $20 million mutual option with the Tampa Bay Rays, as reported by Jon Heyman of The New York Post. He will receive a $4 million buyout and enter free agency.

This decision was anticipated, as mutual options are rarely accepted by both parties. Even if Martinez had opted in, the Rays, known for their budget constraints, would likely have declined their side of the option. The team's projected payroll for 2027 stands at $105.6 million, and Martinez's option would have increased that by $16 million.

At 36 years old, Martinez may not secure a $20 million average annual value in free agency, but he is expected to find a two-year deal with a higher total guarantee. He joined the Rays earlier this year with a $13 million salary and had his best season as a full-time starter, achieving a 3.10 earned run average over 31 starts and 180 innings.