One of the main pieces of the Cincinnati Reds offseason plans for 2026 is finally in motion: The Reds are bringing back Emilio Pagan, their borderline All Star in 2025 closer. He’s signing a multi year deal with an opt-out in 2026. The deal totals 2 years, $20,000,000. Currently, the buyout is unknown. Subscribe to our Newsletter by using the popup or the form below!
Emilio’s 2025 Turnaround
Emilio Pagán had a strong 2025 season with Cincinnati Reds, turning in arguably one of the best years of his career. He appeared in 70 games, logging 68.2 innings with a stellar 2.88 ERA and a 0.92 WHIP.
He struck out 81 batters while issuing 22 walks, and most notably – racked up a career-high 32 saves, tying for 5th in Major League Baseball.
That save total was the most by any Reds reliever in 2025, establishing him as the team’s primary closer for much of the season, a title honored by Terry Francona. Overall, 2025 represented a strong rebound for Pagán after a down 2024 — he proved he could handle high-leverage innings and close out games reliably for Cincinnati. He was probably worth more in hindsight this FA period, but his loyalty to the Reds prevailed.
What’s Next For The Reds?
I think the Reds will add one more reliever this cycle but it won’t be a prominent name. I know the club is checking in with Nick Martinez quite often to see what he’s being talked at, and there’s a great chance it could be Martinez coming back. In typical Krall fashion, any addition from here will be a ‘opportunistic’ add. The club has already added Keegan Thompson to the mix as a MLBer. The club will also rely, heavily, on home grown talent as they hope for Connor Phillips to re-kindle his late found successes from ’25 and carry them into ’26.
Does This Take The Reds Out On Schwarber?
If you read the post today I had about Schwarber coming to Cincinnati, you know I detailed the fact that the organization was strapped for cash and hoping to make it happen by others in the group stepping up. Pagan at $10M annually actually does lessen the chances of Schwarber coming to Cincinnati. I know, I know. Laugh with me. At the end of the day, it remains what I said it does…the group as a whole HAS to step up if they want Schwarber. Nick Krall can’t operate on him coming to Cincinnati, the club has other needs, the bullpen was one of them. It doesn’t take them completely out on Schwarber, but it gets that much more difficult.
