Reds missed prime opportunity to follow up Caleb Ferguson signing with impact trade

The Cincinnati Reds' rebuilt bullpen is starting to take shape, and the unit could emerge as one of the strengths of the team in 2026.

The big move was re-signing closer Emilio Pagán to a two-year deal, locking in their late-inning tandem of Pagán and Tony Santillan for the foreseeable future.

They also made an under-the-radar signing by bringing in long-reliever Keegan Thompson on a split deal. The longtime Chicago Cub hasn't rediscovered the form that led to a breakout 2022 season, but he's proven capable of handling the same kind of bulk-role that Nick Martinez has been tasked with over the past couple of seasons.

Most recently, the Reds finally added a reliable lefty to the 'pen, signing Caleb Ferguson to a one-year contract. In just over 65 innings last year, he recorded a 3.58 ERA and 3.26 FIP. He'll easily replace Sam Moll as the best southpaw in the relief corps.

However, that still leaves Moll (6.38 ERA in 2025) as the second left-handed option out of the bullpen. There's clearly a need to bring in another lefty, and particularly one with high-leverage experience seeing as Ferguson has locked down all of six saves in his seven-year career.

Unfortunately, the Reds may have just let a prime opportunity pass them by. Despite being attached to Matt Strahm in various trade rumors, the Royals scooped him up for a meager return.

Caleb Ferguson was a good start, but Reds must still replace Sam Moll with another left-handed reliever

What makes missing out on Strahm so painful — besides the fact that he's a left-handed reliever who has struck out nearly 30% of hitters over the past two seasons — is that the Reds easily could have beaten the Royals' trade package.

With all due respect to Jonathan Bowlan, he's a reliever who is out of options and posted a 3.97 FIP this past season. It's hard to think the Reds couldn't have enticed the Phillies with one of their many arms in the farm system, especially for a rental reliever like Strahm.

Now, St. Louis Cardinals trade chip JoJo Romero is likely the best left-handed reliever on the market, thanks in part due to the barren wasteland that is free agency. There, the Reds would be picking from pitchers like Sean Newcomb and Danny Coulombe, who are no guarantee to be the high-leverage southpaw they desperately need.

With Ferguson in tow, that need isn't quite as glaring as it once was. Patience can be afforded here, if only because the team must turn its attention to acquiring a power bat.

Hopefully, if another left-handed reliever of Strahm's caliber becomes available, Cincinnati will jump at the chance instead of letting it pass them by.