Rays sign Margot to 2-year, $19M extension

The Tampa Bay Rays agreed to a two-year contract extension with outfielder Manuel Margot, the team announced Tuesday, according to Marc Topkin of the Tampa Bay Times.

The 27-year-old will earn $5.6 million this season. He was set to hit free agency following the 2022 campaign.

Margot will make $7 million in 2023 and $10 million in 2024. The contract also includes a $12-million mutual option for 2025 with a $2-million buyout, pushing the guaranteed money to $19 million.

Margot emerged as an effective player for the Rays and finished first among all major-league right fielders with nine outs above average last season, per Statcast.

Acquired from the San Diego Padres in 2020, Margot owns a .258/.317/.375 slash line with 11 home runs, 25 stolen bases, and 68 RBIs in 172 games with the Rays.