Emilio Pagán's exit gave the Reds an unexpected opportunity to improve their 2027 roster

Most industry sources expected Emilio Pagán to simply exercise his player-option for 2027, take home a cool $10 million, and operate as the Cincinnati Reds closer next season. But Pagán had other plans, and opted out of his contract over the weekend.

The right-hander is now a free agent, and while a reunion with the Reds shouldn't be ruled out, he's going to be looking for bigger payday that the one he was owed. MLB insider Francys Romero is reporting that there's a strong chance Pagán receives multi-year offers this winter.

Pagán, though a reliable member of the Reds bullpen for the last three years, isn't worth the $12 million AAV it'll likely take to re-sign him. As such, the Reds should take their $10 million in savings and reinvest it into other aspects of the roster.

There's going to be a recurring theme this offseason — why aren't we the Milwaukee Brewers? This was the question Reds' owner Bob Castellini reportedly asked Nick Krall during a meeting earlier this season. Krall pointed to various vetoed trades as a reason Cincinnati has been unable to establish a winner, but Poor contract decisions have been part of the organization's downfall as well.

The Reds can't afford to make another free agent mistake by re-signing Emilio Pagán

In the past, the Reds have handed over $45 million to Jeimer Candelario, $64 million to Mike Moustakas, $21 million to Shogo Akiyama, and $7 million to Wil Myers. Bringing back Pagán, who'll be entering his age 36 season, seems like an ill-advised use of the limited financial resources the Reds' front office has at its disposal.

The Brewers aren't going to shell out $12 million for an aging reliever like Pagán. In fact, ESPN's Jeff Passan is reporting that Milwaukee plans to listen to trade offers for Trevor Megill this offseason. Megill is expected to earn $8 million through arbitration this winter.

Cincinnati has so many areas of the roster that need to be improved this offseason if they have any hope to compete in 2027. The Reds need a catcher, multiple starting pitchers, multiple relievers, a third baseman(?), a second baseman(?), and probably an outfielder or two. That $10 million the Reds just saved thanks to Pagán's decision can be put to much better use.

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