By Chris Landers | 20 minutes ago
The Cincinnati Reds entered the offseason with legitimate playoff aspirations and a clear need: fix a bullpen that had cost them far too many close games in 2024. So when they inked veteran reliever Emilio Pagán to a three-year, $42 million deal, the front office believed it had landed a proven high-leverage arm to anchor the late innings.
But just two months into the season, that investment is looking like a major misfire.
Pagán has struggled badly in his first year with Cincinnati. His ERA has swelled to an alarming 5.71 after a disastrous outing against the Padres, in which he surrendered seven earned runs without recording a single out. Since that implosion, Reds manager David Bell has avoided using him in any close games, a stunning fall from grace for a pitcher brought in to close out wins.
It would be easy to chalk up one poor performance as a fluke — but Pagán’s underlying numbers suggest a more concerning trend. His strikeout rate has plummeted, his walk rate has climbed, and his fastball has lost its bite. For a bullpen that desperately needed reliability, the Reds have instead found themselves scrambling to cover innings Pagán was supposed to own.
The problem is compounded by the deal’s financial impact. Cincinnati has never operated with a massive payroll, and allocating $42 million to one reliever meant passing on other upgrades. With key rotation arms already battling injuries and the offense going through cold spells, that money looks more and more like a wasted opportunity.
To their credit, the Reds have gotten solid contributions from Lucas Sims, Sam Moll, and Fernando Cruz, helping them stay afloat in the late innings. But the Pagán deal remains a glaring failure — one that could haunt a team with playoff potential if it can’t be undone or turned around quickly.
Unless something changes soon, Cincinnati’s big bullpen swing may go down as one of the most regrettable free-agent moves of the offseason — and a painful lesson in the risks of betting big on relief help.
