Reds news: Trade of Raisel Iglesias may keep Sonny Gray in Cincinnati

CINCINNATI, OHIO - JULY 25: Raisel Iglesias #26 of the Cincinnati Reds throws a pitch. (Photo by Andy Lyons/Getty Images)
CINCINNATI, OHIO - JULY 25: Raisel Iglesias #26 of the Cincinnati Reds throws a pitch. (Photo by Andy Lyons/Getty Images)

The Cincinnati Reds will save approximately $9M by trading Raisel Iglesias.

The Cincinnati Reds dealt closer Raisel Iglesias and cash to the Los Angeles Angels in exchange for right-handed pitcher Noé Ramirez and a player to be named later. This move may enable the team to save enough money so that trading Sonny Gray is no longer necessary.

Over the past few days, Sonny Gray’s name has surfaced in trade rumors. At first, it seemed as though the Reds were just listening to offers, but lately, it sounded as though Cincinnati was actively shopping the two-time All-Star.

While Nick Krall and the front office may still be doing just that, the urgency to move Gray may be a lot less now that Raisel Iglesias is part of the Angels organization. If Cincinnati’s reason for shopping Gray was to rid themselves of his $10M salary hit in 2021, sending Iggy to the West Coast will save Cincinnati $9.125M according to Spotrac.

Iglesias was entering the final year of a three-year extension he signed with the Reds, while Gray still has two years remaining in addition to a team option for the 2023 season. According to Spotrac, Gray is owed $20.2M over the next two years and the club option is worth $12M.

The Reds recently non-tendered Archie Bradley, Curt Casali, R.J. Alaniz, Kyle Farmer, and Brian Goodwin. Those transactions were thought to have saved the team in the neighborhood of $10M-$12M. Cincinnati would re-sign Farmer within minutes of making him a free agent last week.

In addition to saving some money heading into next season, the team will need a new closer. Early candidates would likely be Amir Garrett, Lucas Sims, and perhaps Michael Lorenzen. Lorenzen has also been rumored to be headed to the starting rotation in place of Trevor Bauer.

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Ramirez went 1-0 with a 3.10 ERA last season with the Angels. For his career, Ramirez has 230 strikeouts over 211 innings of work. Ramirez broke into the big leagues with the Boston Red Sox back in 2015. The 30-year-old isn’t arbitration eligible until after next season, but he has no minor league options remaining. Look for Ramirez to add some depth to Cincinnati’s bullpen in 2021.