Rays pleased with ‘strong return’ as they complete Tyler Glasnow trade

ST. PETERSBURG — As unlikely as it seemed, baseball operations president Erik Neander insisted for months the Rays were able and willing to keep starting pitcher Tyler Glasnow and his team-record $25 million salary that would have pushed their payroll to record heights.

But interest in the tall right-hander with dominant stuff and a history of injuries and inconsistency was predictably high, and the Rays saw the potential for what they considered a solid return that could keep them competitive while saving millions that could be spent in future years.

After talking with Dodgers officials, including some former Tampa Bay colleagues, for weeks — including at country singer Brad Paisley’s 100-acre farm during the recent winter meetings in Nashville — the Rays locked in a few days ago on what they felt was their best deal.

Saturday, it finally became official.

The Rays traded Glasnow, outfielder Manuel Margot and $4 million to Los Angeles for two promising young players they hope can prove to be capable replacements, starter Ryan Pepiot and outfielder Jonny DeLuca, and saved $33 million in doing so. As part of the deal, the Dodgers worked out a four-year, $111.5 million extension with Glasnow.

“There was a lot of interest, and that in and of itself forced us to be open-minded,” Neander said Saturday. “From there, the opportunity to get what we believe is a really strong return in the two players that we got back to be in our mix sooner rather than later gave us the confidence that it was worth the tradeoff as we look to continue to try to be as competitive as possible not just next year, but the years beyond.”

Pepiot, 26, is a hard-throwing right-hander likely to step into the rotation now fronted by Zach Eflin. DeLuca, 25, is a right-handed hitter with speed and power who, like Margot, can play all three outfield spots.

Neander said both will have to earn their spots and cautioned against creating expectations. But it seems clear the Rays expect them to contribute prominently and promptly.

“This particular deal was something that to us we saw as not only our greatest return, but also our greatest fit,” Neander said. “While we lose some certainty in the accomplishments of Tyler and Manuel, we’re getting two players that we think are well positioned to step in in the near term here and to keep us in a very competitive space.”

Pepiot, 6-feet-3 and 215 pounds, has a repertoire topped by a changeup some evaluators consider elite, with a mid-90s fastball that can reach the upper 90s and an improving slider. He was twice ranked among Baseball America’s top 100 prospects.

He made his big-league debut in 2022 and was slated for a spot in the Dodgers’ 2023 rotation until being sidelined by an oblique strain in late spring. He didn’t get to the majors until mid-August, pitching in eight games (three starts) and going 2-1 with a 2.14 ERA.

“He’s big, he’s strong, he’s athletic,” Neander said. “Exceptional changeup. Fastball that plays above the velocities. A developing breaking ball that gives him three pitches that gives him a very good chance to be a good major-league starter. And I think he’s very close to that.

“The big thing for him, and following him the last few years, is some adjustments and things that were done over the course of the last 12 months that I think really helped his command, his strike-throwing. The stuff’s in a pretty good place, but I think the strike-throwing — be it mentality, be it mechanical adjustments, what have you — is something that we saw take a meaningful step forward.

“When you have three pitches with some depth to the menu, with good stuff and the strike-throwing starts to really come on,” Neander continued, “that gives you a lot of room for impacting a rotation.”

DeLuca, a 25th-round pick, worked his way from Double A to Triple A to the majors last season, hitting .262 in 24 games with the Dodgers. He hit 19 homers in all and continued to get better at each level.

“An exceptional athlete, well-rounded skill set that can help you win games in a lot of different ways,” Neander said. “A bat that is continuing to come on and to ascend, but somebody that can beat you in the batter’s box, can beat you with his legs on the bases and certainly defensively. We got a snapshot of that last year.”

Though the Rays churn their roster frequently, Neander said trading two players who were key parts of their recent run of success was particularly tough. “These are exceptional people that have helped us win a lot of games,” he said.

Neander said the deal started to take shape the week before the winter meetings. An opportunity for additional conversation arose when the Rays were invited to join Los Angeles team officials for a social event hosted by Paisley, a Dodgers diehard.

“Brad made it clear he was a Tyler fan,” Neander said. “We made sure to use that as much as we could. Got to pull out all the stops to get something like this done.”

There seemed some irony in the small-market Rays having to give $4 million to the big-budget Dodgers, especially the same week Los Angeles signed Shohei Ohtani to a record-smashing 10-year, $700 million deal.

But given what appeared a limited market for Margot (with a $10 million salary and $2 million buyout on a 2025 option), Neander said “to make this whole thing come together, that was how we kind of we had to get it there.” The Dodgers will get $2 million now and the other $2 million only if they decline the option.

Glasnow’s extension, which included a reworking of how he gets his $25 million in 2024 ($10 million signing bonus, $15 million salary), gives him salaries of $30 million for 2025-27, then either a $30 million team option or $21.5 million player option for 2028. Getting all that worked out and approved was the primary reason announcement of the deal was delayed under Saturday.

Neander said it was important to send Glasnow, who is from southern California, to a good situation. The pitcher said he appreciated it, as well as the opportunity he had — and relished — with the Rays.

“It’s definitely bittersweet,” Glasnow told the Tampa Bay Times. “It’s the most fun I’ve ever had playing baseball, and I’ve learned so much and made a ton of friends the last six years. I’m also really excited to be able to go back home and play for my hometown team. The Dodgers organization is extremely impressive.”

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