The Reds may be staring at a closer opening this winter after Emilio Pagan made a notable call on his future.
According to Francys Romero, Pagan has turned down his $10 million player option for the 2027 season and will head into free agency. Romero also reported that Pagan has a strong chance to land a multi-year contract after the way he finished the season.
That finish mattered. Pagan spent the first half dealing with an injury, then came back sharp in the second half.
In 27 appearances after the break, the right-hander posted a 1.71 ERA with 29 strikeouts and 18 saves across 26 1/3 innings. Those numbers give him a real case as he looks for a longer-term deal on the open market.
The move is a little surprising on the surface because Pagan seemed to enjoy Cincinnati. Still, liking where you pitch and making the best business decision for your future are not always the same thing.
He’ll turn 36 in May, and that age makes his push for a multi-year contract easy to understand. For a reliever, passing on guaranteed money always carries risk, but this may be his best shot at securing a bigger payday.
That doesn’t automatically close the door on a return to Cincinnati. The Reds could still sign him to a new deal, but the real question is whether they’d be willing to make the kind of commitment he might find elsewhere. Given their other roster needs, that seems unlikely.
It adds another item to an offseason to-do list that already looks crowded.
If Pagan leaves, the Reds will have to sort out the ninth inning. Replacing what he provided in the second half would be a tough assignment, and any money devoted to a new closer would come out of what they have available to fix other parts of the roster.
There’s a case for keeping him. There’s also a fair question about how much sense it makes to invest heavily in an aging reliever when so many other areas need attention.
Pagan is betting that his strong second half will pay off. Now the Reds have to decide how far they’re willing to go to keep him in Cincinnati.
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Cincinnati now has to weigh the cost of bringing Pagn back against the possibility that another team will push the bidding higher on the open market. If the Reds choose not to go that route, the conversation quickly turns to the internal options already in house, with the bullpen hierarchy potentially changing in a hurry before next season even begins. [Read more 🡒]
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Bowden also suggested the Reds are likely to at least weigh trade possibilities again this offseason, which puts an uncomfortable spotlight on where the organization goes from here. Any serious conversation would surely start with a massive return, and the Dodgers have already been floated in speculative scenarios, but for now the bigger story is the pressure Cincinnati faces when a player this dynamic starts drawing that level of attention. [Read more 🡒]