Mychal Givens back with Orioles after agreeing to $5M deal

Vincent Carchietta-USA TODAY Sports

BALTIMORE — Right-handed reliever Mychal Givens and the Baltimore Orioles finalized a one-year, $5 million contract, a deal that includes a mutual option for 2024.

Givens began his big league career with the Orioles and was with them from 2015 until he was traded to Colorado during the 2020 season. He pitched for the Rockies and Cincinnati Reds in 2021 and with the Chicago Cubs and New York Mets in 2022.

He went 7-3 with a 3.38 ERA in 59 appearances this year.

For his career, the 32-year-old Givens is 32-23 with a 3.40 ERA in 419 appearances. The bullpen was a surprising strength for the Orioles last season as they went 83-79 for a 31-game improvement over 2021.

The Orioles designated infielder Lewin Diaz for assignment.

Givens has a $3 million salary next year, and the mutual option is for $6 million. There is a $2 million buyout if the team declines and a $1 million buyout if the player declines.

The buyout if Givens declines could increase by $500,000 for games pitched next year: $100,000 each for 40, 45, 50, 55 and 60.

Givens can earn $150,000 in performance bonuses for games pitched: $25,000 each for 40, 45, 50, 55 and 60. He also can get $100,000 in bonuses for games finished: $25,000 apiece for 20, 25, 30 and 35. Givens would get $25,000 for All-Star election or selection.

RHP Fairbanks, Rays agree to 3-year, $12 million contract

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Dave Nelson/USA TODAY Sports

ST. PETERSBURG, Fla. — Reliever Pete Fairbanks and the Tampa Bay Rays avoided arbitration when they agreed Friday to a three-year, $12 million contract that could be worth up to $24.6 million over four seasons.

The deal includes salaries of $3,666,666 this year and $3,666,667 in each of the next two seasons. The Rays have a $7 million option for 2026 with a $1 million buyout.

His 2024 and 2025 salaries could increase by $300,000 each based on games finished in the previous season: $150,000 each for 35 and 40.

Tampa Bay’s option price could increase by up to $6 million, including $4 million for appearances: $1 million each for 60 and 70 in 2025; $500,000 for 125 from 2023-25 and $1 million each for 135, 150 and 165 from 2023-25. The option price could increase by $2 million for games finished in 2025: $500,000 each for 25, 30, 35 and 40.

Fairbanks also has a $500,000 award bonus for winning the Hoffman/Rivera reliever of the year award and $200,000 for finishing second or third.

The 29-year-old right-hander is 11-10 with a 2.98 ERA and 15 saves in 111 appearances, with all but two of the outings coming out of the bullpen since being acquired by the Rays from the Texas Rangers in July 2019.

Fairbanks was 0-0 with a 1.13 ERA in 24 appearances last year after beginning the season on the 60-day injured list with a right lat strain.

Fairbanks made his 2022 debut on July 17 and tied for the team lead with eight saves despite being sidelined more than three months. In addition, he is 0-0 with a 3.60 ERA in 12 career postseason appearances, all with Tampa Bay.

He had asked for a raise from $714,400 to $1.9 million when proposed arbitration salaries were exchanged Jan. 13, and the Rays had offered for $1.5 million.

Fairbanks’ agreement was announced two days after left-hander Jeffrey Springs agreed to a $31 million, four-year contract with Tampa Bay that could be worth $65.75 million over five seasons.

Tampa Bay remains scheduled for hearings with right-handers Jason Adam and Ryan Thompson, left-hander Colin Poche, third baseman Yandy Diaz and outfielder Harold Ramirez.