On Wednesday, the Reds opened their offseason by agreeing to a deal with Pagán (pending a physical). The deal is for two years and $20 million, according to multiple reports, with an opt-out after the first year.
Pagán was one of the Reds’ most clutch and team-first contributors last season. He pitched in a career-high 70 games, often taking the ball in difficult circumstances like pitching in three or even four straight games.
He pitched at a near All-Star level, posting a 2.88 ERA.
The 2025 season was his second opportunity to close in the big leagues, and he learned from prior experiences to have a successful year.
“When I first got a shot at closing, I wanted to be the closer,” Pagán said during the season. “That name, it made the inning bigger than what it needed to be. It’s cool to throw the ninth, but I’m not trying to treat myself like a closer. That alone is minimizing the hype around the inning. I’m trying to control my emotions and just execute as many pitches as I can.”
While Pagán didn’t open the year as the Reds’ closer, he earned that title by the end of the first week of the season. All year, manager Terry Francona was able to call upon the formula of Graham Ashcraft in the seventh inning, Tony Santillan in the eighth and Pagán in the ninth.
“It makes you feel good going into a game,” Francona said. “It makes you feel good about your ball club.”
The bullpen was the Reds’ biggest need entering the winter. They had four relievers hit free agency, including Pagán. Their only returning relievers with significant big league experience were Santillan and Ashcraft. There also are pitchers who were rookies last season and bounced up and down between MLB and Triple-A, including Connor Phillips, Zach Maxwell and Luis Mey.
Pagán gives the Reds more stability and experience in the bullpen.
Pagán initially joined the Reds entering the 2024 season and signed a two-year deal with the Reds. While an injury limited his ability to be consistent in 2024, he had a career year in 2025. He leaned more on his fastball, a standout pitch, and went stride-for-stride against elite hitters in the ninth inning.
The closer market has been moving quickly this winter, and Pagán became the third free agent closer to come off of the board on the market.
The Reds’ bullpen still needs some more help and experience, and the Reds could especially benefit from adding a left-handed starter. They’re also always looking for ways to strengthen the lineup with the limited payroll that they have to work with.
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