Top Landing Spots for Free Agent Raisel Iglesias

• Age in 2026: 36
• 2025 Stats: 70 games, 67.1 IP, 3.21 ERA, 29 SV, 5 BS, 73 K, 1.0 fWAR
• 2025 Salary: $16 million
• Qualifying Offer Eligible: No

Contract Projection

• Contract Length Expectation: 1-2 years
• Expected AAV: $10-16 million

With all said and done, the overall numbers paint a picture of a typical Iglesias season, one that wouldn’t stand out from any other on the back of his baseball card: 29 saves and a 3.21 ERA in a career-high 70 games.

That will be critical to remember as he enters free agency.

Will his awful start scare off potential suitors? Maybe. Will his dominant finish earn him more than any of us expect? It’s possible.

We certainly can’t tell the story of his season without mentioning both parts. The overall numbers alone wouldn’t be sufficient.

At the same time, when it comes to determining the kind of pitcher he’ll be in 2026 and beyond, those overall numbers are where we should be looking.

After all, Iglesias established himself as baseball’s most consistent closer over a much larger sample than just one season. I’m not ready to throw that out the window after one unusual year.

Don’t believe me that Iglesias is the pitcher picture of consistency? The stats speak for themselves.

The Cuba native has been worth at least 1.0 Baseball Reference WAR in nine of the past 10 years, with the COVID-shortened 2020 the only exception. No other primary reliever (min. 50% of appearances in relief) has done so in more than seven of the past 10 years, and only 12 (including Iglesias) have reached 1.0 bWAR in even half of those seasons.

He’s also the only primary reliever with at least 1.0 FanGraphs WAR in nine of the past 10 years. Similarly, there are only 12 relievers with at least 1.0 fWAR in even half of those seasons. Of those dozen, only seven are also on the aforementioned Baseball Reference list of 12:

The numbers are clear. We’re talking about elite, unmatched consistency here.

Raisel Iglesias has never been the best reliever in baseball. He’s never led the league in saves or ERA. He’s never even made an All-Star team.

Yet, he’s been one of the best more often than anyone else since he took on a full-time bullpen role.

With his 36th birthday fast approaching, that won’t be enough to earn him a long-term deal. However, it should help him land another closing gig and an annual salary close to the $14.5 million AAV on his last deal. Let’s talk about where he might end up.

Free Agent Landing Spots for Raisel Iglesias

Los Angeles Angels

The Angels gave Kenley Jansen a one-year, $10 million deal last winter. It worked out well for both sides, with Jansen pitching to his lowest ERA since 2021 and adding 29 saves to his impressive career total.

If Jansen moves on, would the Angels pursue Iglesias on a similar contract? I don’t see why not.

In December 2021, this same Angels front office signed Iglesias to a four-year, $58 million deal. Less than a year later, they shipped him off to the Braves in a salary dump.

It was a bizarre move for a team that still had plans to contend in 2023 and beyond – even if those plans were ill-informed. Iglesias was a bargain for what the Braves paid him, pitching to a 2.35 ERA with 97 saves in 222 games following the trade. (The only pitcher in that time with more saves, more appearances, and a lower ERA might never throw another pitch in MLB again.)

Meanwhile, the Angels have had one of the worst bullpens in the sport in each of the past three years. Would keeping Iglesias have made this team a true contender in any of those seasons? No. But if they were ever as serious about contending as they claimed to be, trading Iglesias so early in his contract was clearly a mistake.

Perhaps they’ll try to fix that mistake by signing Iglesias all over again.

As for Iglesias, it’s fair to wonder if he’d be willing to return. When a player signs a multi-year contract, he’s not expecting to be shipped off eight months later. So, it would be more than reasonable for him to hold a grudge.

That said, considering how much more team success he enjoyed in Atlanta than he would have had in Anaheim, there might not be any hard feelings on his part. If the Angels are willing to give him eight figures and a chance to close, I expect he’d be more than happy to bury the hatchet.

Cincinnati Reds

Pitching in Great American Ball Park isn’t always easy, but Iglesias made it work. After moving to the bullpen in his sophomore season, he pitched to a 2.78 ERA in 251 games for the Reds from 2016 to 2020. Even more impressive was his 2.34 ERA at home.

It’s always hard to guess how active the Reds will be in free agency, although the answer is usually “less active than you think they should be.”

Still, it’s not like Iglesias is going to break the bank, and with Emilio Pagán hitting free agency, the Reds need a new closer. Why not give their old one a call?

Texas Rangers

Reunions are fun, but I suppose I should probably consider the possibility that Iglesias won’t re-sign with one of his former teams.

Unlike the Angels and Reds, the Rangers aren’t losing their closer to free agency – but that’s only because they never really had a closer in 2025. They are, however, losing Chris Martin, Phil Maton, Shawn Armstrong, Danny Coulombe, and Hoby Milner, so it’s safe to presume Texas will be active in the relief market once again this winter.

In theory, the fit here is clear as day, but ultimately, it will depend on whether the Rangers want to follow their blueprint from last year (add a bunch of cheaper guys and go with a closer-by-committee) or change things up and add a Closer with a capital C.

Athletics

The Athletics’ bullpen was shockingly effective without Mason Miller, posting a 2.99 ERA – the second best in baseball – post-trade deadline. However, a lot of that success was thanks to a dominant showing from soon-to-be free agent Sean Newcomb.

This team still has some promising arms in the ‘pen for next year, but overall, it’s a highly inexperienced group. A Proven Closer™ would make a big difference, and if the A’s are serious about building a contender around their exciting offensive core, a big addition for the bullpen should be near the top of their offseason shopping list.

Why would the A’s appeal to Iglesias? For one, he could safely expect to close. A more surefire contender might not give him that opportunity. What’s more, the Athletics’ signing of Luis Severino last offseason demonstrates a willingness to pay what it takes to land a veteran arm.

Pittsburgh Pirates

Not much has gone right for the Pirates in recent years, but at least they’ve been blessed with some talented closers. David Bednar was an All-Star in 2022 and ’23, and while he struggled in 2024, the Pirates thankfully had Aroldis Chapman to pick up the slack.

Now that Bednar’s a Yankee and his successor, Dennis Santana, is a rumored trade candidate himself, perhaps the Pirates look to add another Chapman type. Iglesias fits the bill.

No, the Pirates aren’t exactly an attractive landing spot. But like I’ve said, I’m expecting Iglesias to follow the money, and, more importantly, to follow the save opportunities. Besides, if he signs with the Pirates now, there’s a good chance he’ll be pitching for a much better time by next August.