Projecting the Reds' 2026 bullpen after the addition of Caleb Ferguson

Just a couple of weeks ago, Reds fans were in panic mode about the rich bullpen market. How would Cincinnati compete in a world where Devin Williams is making $51 million over three years?! Now that the Reds have re-signed Emilio Pagán and added lefty Caleb Ferguson, a bullpen once perceived as a weakness has become a strength. Now all the Reds need to do is figure out how they’ll structure the relief corps.

High-leverage, late-inning options

Let’s start with the obvious: Emilio Pagán is getting the ball in the ninth. The right-hander more than passed the test in his first season as a closer. He made a career-high 70 appearances and saved 32 games. Even better, he was lights-out with runners in scoring position, holding opponents to a .138/.175/.241 line. Logic follows that Tony Santillan will slot into the setup role after a career year in 2025. Similarly, Graham Ashcraft seems likely to retain his high-leverage, late-game role.

The Reds’ bullpen is looking like a strength in 2026, but questions still remain.

Middle relief

Ferguson tends to be a lefty specialist. Considering the only other relief southpaw on the roster is Sam Moll, who underperformed last season, Caleb Ferguson seems likely to play the lefty vs. lefty role for the Reds. Last season, Moll had a left-on-base rate of less than 50% and completed just 18 ⅓ innings in 23 appearances. Look for him to be unseated in middle relief by lefty Brandon Williamson, who is returning from Tommy John surgery.

As for right-handed middle relief, Connor Phillips found his groove just in the nick of time. He issued just 4.32 walks per nine innings, his best mark since Double-A. He’ll get the ball in low-leverage situations again in 2026. Fireballer Zach Maxwell got hit hard during his first taste of the Majors in 2025, so I can see the Reds giving Lyon Richardson one more shot to prove his worth.

Long relief

The Reds’ other offseason free-agent relief pickup, Keegan Thompson, is out of options. Spring Training will be make-or-break for the right-hander. If he proves his worth, he could fill the long relief role, but he will have to hold off on starting pitching prospects such as Chase Petty and Rhett Lowder. Thompson threw his sinker far more often at Triple-A Iowa in 2025, which helped cut his flyball rate, so I’m rooting for the underdog to keep the ball on the ground and find success at Great American Ball Park.