Cincinnati Reds Officially Part Ways With Top Pitcher

Emilio Pagán declined his $10 million player option with the Cincinnati Reds for the 2027 season on Saturday, becoming a free agent and leaving the club in search of a new closer, via MLB.com.

The 35-year-old right-hander, who has spent the past three seasons in Cincinnati, informed the team of his decision ahead of the option deadline. Francys Romero of BeisbolFR first reported the move.

Unless Pagán and the Reds reach a new agreement by early November, he will enter the open market as a free agent.

Pagán joined the Reds on a two-year, $16 million deal in December 2023. After an uneven 2024 season marked by injuries and a 4.50 ERA, he returned in 2025 and took over as the team’s closer.

That year he converted 32 of 38 save opportunities with a 2.88 ERA, strong strikeout and walk rates, and 68⅔ innings of work.

He re-signed with Cincinnati last winter on a two-year, $20 million contract that included the $10 million player option for 2027 he has now declined.

In 2026, Pagán went 5-1 with a 3.38 ERA and 25 saves in 28 chances across 45 appearances. A left hamstring strain suffered in early May sidelined him for nearly two months.

Upon his return in early July, he was dominant, posting a 1.88 ERA and converting all 19 save opportunities the rest of the way. Across his three seasons with the Reds he recorded 58 saves and a 3.44 ERA in roughly 149 innings.

He has 90 career saves in 10 major-league seasons since debuting with the Seattle Mariners in 2017.

The decision was not entirely surprising given Pagán’s strong second half and age—he turns 36 next May.

At this stage of his career, he is seeking another multi-year contract and is widely expected to command more than the $10 million he left on the table.

He has previously indicated he enjoys playing in Cincinnati, and neither side has ruled out a reunion during free agency.

On the same day, the Reds declined mutual options on designated hitter Eugenio Suárez ($16 million) and reliever Pierce Johnson ($8 million, with a $1 million buyout), sending both to free agency as well.

The moves free up payroll but leave the bullpen without its recent closer as the club looks toward 2027 under manager Terry Francona.

Pagán will now test a free-agent market that includes other veteran late-inning arms. For the Reds, finding a reliable ninth-inning option becomes an early priority this offseason.