The Cincinnati Reds are reportedly re-signing reliever Emilio Pagán to a two-year, $20 million contract, per multiple sources, including MLB.com’s Mark Feinsand.
Emilio Pagan is headed back to the Reds on a two-year, $20 million deal, per source. The deal, which is pending physical, includes an opt-out after 2026. @Ken_Rosenthal and @ctrent were on it.
— Mark Feinsand (@Feinsand) December 4, 2025
Pagán’s nine-year MLB journey has been a steady rise from journeyman reliever to reliable closer. Drafted by the Seattle Mariners in 2013 out of Belmont Abbey College, he debuted with the Cubs in 2017, posting a 2.65 ERA over 24 appearances. Traded to the Athletics in 2018, he refined his splitter-heavy arsenal, then joined Tampa Bay in a 2019 three-team deal, where he notched a career-best 1.77 ERA and 19 saves, earning All-Star honors.
Stints with San Diego (2020-21) and Minnesota (2022-23) followed, blending setup duties with occasional closing (highlighted by a 2.99 ERA and five wins in 2023).
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The Cincinnati Reds, who were hoping to sign reliever Devin Williams before he went to the Mets, are bringing back Emilio Pagan on a 2-year, $20 million deal. He has an opt out after the 2026 season, per @Ken_Rosenthal/@ctrent
— Bob Nightengale (@BNightengale) December 4, 2025
Signing a two-year, $16 million pact with Cincinnati in late 2023, Pagán battled injuries in 2024 (4.50 ERA, 38 games) but opted into his $8 million salary for 2025. There, he seized the ninth-inning role amid Alexis Díaz’s early struggles, delivering a breakout campaign: 70 outings, 2-4 record, 2.88 ERA, 0.92 WHIP, 81 strikeouts, and a league-second 32 saves. His late-season dominance fueled the Reds’ first full-season playoff berth since 2013.