CINCINNATI — As the Reds were consoling each other following their Oct. 1 exit from the playoffs with two losses against the Dodgers in Los Angeles, closer Emilio Pagán sat in his locker stall seeming to quietly take it all in.
About to be a free agent again, Pagán was hopeful that it wasn’t a last goodbye from his teammates and from Cincinnati.
“I’d love to run it back with them and take another run at it. Nothing’s guaranteed in this game. We’ll see what happens,” said Pagán, who did not appear in either of the two losses at Los Angeles.
After it became clear that 2023 All-Star Alexis Díaz was not going to retain his job as closer after he began the season on the injured list, the Reds opened ‘25 without naming one. Ian Gibaut got the first shot on Opening Day and blew the save in a loss to the Giants. In the second game, on March 29, Pagán was given the ball in the ninth inning. He retired the side in order for the save, and the job was his.
Pagán, 34, went on to record a career-high 32 saves in 38 chances with a 2.88 ERA and 0.92 WHIP over 68 2/3 innings. He was second in the National League and tied for fifth in MLB in saves, and hitters batted .168 against him.
The Reds signed Pagán to a two-year, $16 million contract before the 2024 season. In a setup role the first season, he had a 4.50 ERA in 38 appearances, but he also missed two months with a right lat strain.
“When we signed him, he had closing experience. We could use him in that role. He took the role and ran with it this year,” Reds president of baseball operations Nick Krall said.
This season, Pagán was a workhorse to the end with a career-high 70 appearances. He was at his best while the Reds pushed to make the playoffs. Over his last 10 games — which included working four consecutive days during the final week — he threw 10 scoreless innings with six saves.
“Hopefully it all comes together next year, and I would love to be back and hoisting the World Series trophy. I truly believe that this team can do that,” Pagán said.
The Reds have yet to approach Pagán, or their other pending free agents, about returning. Krall noted that ownership will likely provide baseball operations with its 2026 budget by the end of October.
“We’re going to have to make some tough decisions on who to bring back, how to bring them back, how to rebuild our bullpen,” Krall said. “We’ve got two guys with options. We’ve got free agents. We’re going to figure out how everybody works.”
From this year’s bullpen, Nick Martinez is a pending free agent, while Scott Barlow and Brent Suter have club options for 2026.
But whether to bring back Pagán — who turns 35 in May — could be the most critical decision Cincinnati makes for its bullpen. While the Reds have some power arms in setup men Tony Santillan and Graham Ashcraft and younger high-velocity weapons in Zach Maxwell, Connor Phillips and Luis Mey, none of them has full-time closing experience in the big leagues.
Pagán has also been a valued team leader in the clubhouse who was accountable in both victory and defeat. He mentored the younger pitchers while setting good examples. For a Reds team that wants to build on its 2025 playoff appearance by going further, fortifying the closer spot with Pagán again erases one big need.
“I love these guys. They know that,” Pagán said. “I would love to be with them and continue to help them get back to where this organization is winning championships.”
