Reds ink reliever Emilio Pagán to two-year contract

The 34-year-old is coming off a strong season where he finished the year with a 2.88 ERA and 3.72 FIP in 68.2 innings pitched, along with a 30 K% and an 8.1 BB%. Additionally, Pagán saved 32 games in 38 opportunities, setting a new career-high.

It was only Pagán’s second season as a closer in his nine-year career. The other time came in 2019 with the Tampa Bay Rays, where he posted a career-best 2.31 and 3.30 FIP in 70 innings pitched, along with a 36 K% and 4.9 BB%. That marks just two of the three times Pagán has finished with a sub-3.00 ERA, and just two of four times he finished with a sub-4.00 ERA.

In between those strong seasons in 2017, 2019, 2023, and 2025 are a whole bunch of seasons with an ERA that sits above 4.30. For his career, Pagán has a 3.66 ERA and 4.00 FIP in 506.2 innings pitched, pitching for the Seattle Mariners, Oakland Athletics, Rays, San Diego Padres, Minnesota Twins, and the Reds, where he has spent the past two seasons.

With the Winter Meetings rapidly approaching, the reliever market is quickly thinning. Raisel Iglesias signed in the middle of November, Phil Maton and Ryan Helsley signed toward the end of November, and Devin Williams signed at the beginning of December.

That said, the two best relievers are still available. Edwin Díaz isn’t just the best reliever on the market, but he’s seen as one of the best relievers in baseball. Robert Suárez is another high-leverage reliever who could earn a significant payday, while Pete Fairbanks has been connected to the Blue Jays a few times this off-season.

It seems like it’s only a matter of time before the Blue Jays add some more pitching, having already signed starters Dylan Cease and Cody Ponce. Next up on their priority list is a high-leverage reliever or two, as well as a big bat.

The Winter Meetings begin on Monday, Dec. 8th.