TAMPA, Fla. -- The Rays have seen Drew Rasmussen overcome a lot in his career.

The right-hander worked his way back from a pair of Tommy John surgeries during his time at Oregon State, successfully moved out of Tampa Bay¡¯s bullpen to become a dominant starter, then sustained another injury setback: a third major surgery on his throwing elbow. He dealt with that adversity, too, making his way back to the mound for the Rays last August.

So there was a great deal of satisfaction on both sides on Tuesday, when the Rays and Rasmussen finalized a two-year contract extension that provides him with financial certainty and security as he prepares to rejoin Tampa Bay's rotation this year.

¡°This one means a lot for all of us,¡± president of baseball operations Erik Neander said on Wednesday. ¡°Nobody with better character than Ras. Just couldn¡¯t be more happy for him, [his wife] Stevie and their family.¡±

The deal will guarantee Rasmussen $8.5 million but could be worth up to $28 million. He will receive a $2 million salary this year, with a $500,000 signing bonus, and $5.5 million in 2026, a source told MLB.com. The agreement includes an $8 million club option for 2027 with escalators (based on innings pitched and health) that could increase his '27 salary to $20 million; the option year can be bought out for $500,000.

The deal covers Rasmussen¡¯s two remaining years of club control, as he was eligible for salary arbitration for the second time this offseason and was set to reach free agency after next season. The option year covers what would have been the 29-year-old¡¯s first season after becoming a free agent.

Signing the extension was an easy decision for Rasmussen.

¡°There¡¯s definitely some peace of mind, and that¡¯s going to be huge,¡± he said on Wednesday. ¡°It¡¯s not what I can do on the field that makes me all that nervous. I think my track record has been pretty good from a performance standpoint. But just the team to say, ¡®Hey, we have faith in you, and we have faith in your health for the next couple years. So long as you¡¯re healthy, we expect quality.¡¯ It¡¯s a really cool feeling.¡±

With Rasmussen under contract, the Rays have five remaining players eligible for arbitration prior to Thursday¡¯s deadline to either agree to terms or exchange salary figures: starters Zack Littell and Shane Baz, shortstop Taylor Walls, reliever Garrett Cleavinger and catcher Ben Rortvedt.

Acquired from the Brewers in May 2021 as half of the Rays¡¯ return for shortstop Willy Adames, Rasmussen moved out of the bullpen to become an effective starter for Tampa Bay down the stretch. He put together an impressive 2022 season as a starter, posting a 2.84 ERA in 28 starts, and got off to an even better start in ¡¯23, with a 2.62 ERA through eight outings.

However, Rasmussen sustained a right elbow injury that required a season-ending internal brace procedure on July 24, 2023. For many pitchers, a third major elbow procedure can be a career-killer, but the relentlessly hard-working Rasmussen wouldn¡¯t let that be the case, displaying the kind of drive and work ethic that eased the Rays¡¯ concerns about extending a pitcher with his injury history.

¡°You¡¯re getting a consummate professional. You¡¯re getting character to the highest degree,¡± Neander said. ¡°He¡¯s been tested in many ways and has just excelled in all those moments of adversity.¡±

Balancing a desire to get him back on the mound and limit his workload, the Rays had Rasmussen return as a multi-inning reliever/opener. But he didn¡¯t miss a beat, flashing powerful stuff that led to impressive results, as he put together a 2.83 ERA with 35 strikeouts and only six walks in 28 2/3 innings over 16 appearances.

Considering his history of arm injuries, his excellence in a relief role and the Rays¡¯ surplus of starting pitching, there were some questions about whether Rasmussen would remain in the bullpen or try to rejoin the rotation this year. But the Rays revealed during the Winter Meetings last month that Rasmussen had decided to give starting another shot.

¡°Don¡¯t get me wrong: Being in the bullpen last year, it was a treat, and it was exciting. But holy cow is that stressful every single day,¡± Rasmussen said, laughing. ¡°It¡¯s just one of those things. I think they posed the question to me, kind of: 'We¡¯re going to follow your lead, but what role would you like to fill next year?'¡±

Rasmussen made his decision after consulting with Dr. Keith Meister and the Rays' medical staff about the risks of returning as a starter, which he said were no greater than those he¡¯d experience as a reliever. Ultimately, he simply prefers the life of a starting pitcher -- the four days of work between outings, the routine, the preparation, the challenge of turning over a lineup three times -- and the Rays wanted to respect that.

Now Rasmussen is slated to be part of a talented rotation that should also feature returning ace Shane McClanahan, Littell and the young trio of Baz, Ryan Pepiot and Taj Bradley.

¡°Any time he's been on the mound for us, he's looked exceptional in whatever role,¡± Neander said. ¡°He's a dominant pitcher, period.¡±