Reds president’s latest quote raises big questions about looming free agent call

As Alexis Diaz flamed out spectacularly to start the 2025 season, one pertinent question became among the most important for Terry Francona to answer in his first season as Cincinnati Reds manager: Who would be the team's closer?

Turns out, Emilio Pagán ran away with the job, locking down 32 saves while authoring a 2.88 ERA and 3.72 FIP in 68 2/3 innings. Among all qualified MLB relievers in 2025, the 34-year-old ranked tied for fifth in saves, tied for 22nd in strikeouts (81), ninth in batting average allowed (.167), and 15th in WHIP (0.92).

Pagán was as good of a "backup plan" in the ninth inning as a team could've asked for, and he should be rewarded handsomely for his efforts once he reaches free agency this winter. Unfortunately, that's where the good vibes stop rolling. Reds team president Nick Krall was asked about Pagán's impending free agency, and predictably, the front office exec wouldn't make any commitments to his most important reliever.

Nick Krall remains concerningly vague about Reds' desire to re-sign Emilio Pagán

“Emilio Pagán has been a quality veteran leader for two years. He’s been a quality guy on this team. He’s second in the league in saves. He absolutely fits in our bullpen. He fits in the culture of our bullpen. He’d be tremendous to have back. He’s a great guy," Krall told Gordon Wittenmyer of the Cincinnati Enquirer.

That's all well and great to say, but it's hardly an actionable plan. In the face of other comments he made (he explicitly said that he doesn't know what the team will be able to do in free agency), it's pretty concerning that the Reds seem so allergic to spending on their best players.

For what it's worth, Pagán did tell Wittenmyer that he wants to return to Cincinnati. However, he'll blow his previous AAV of $8 million out of the water in free agency, and it remains to be seen if the Reds are comfortable footing the bill on his new price tag.

Notably, Pagán was the only member of the bullpen not to appear in the Reds' Wild Card series against the Los Angeles Dodgers. He's made postseason appearance in three prior campaigns (2019, 2020, and 2023), though none of his teams have ever advanced beyond the Divisional Round.

Given his age (he turns 35 next May), Pagán may prioritize teams that he deems to have a legitimate chance to win the World Series. Of course, this may also be his last chance to cash in on a lucrative, multi-year contract, so his market for contending teams with money to spend will be limited.

Are the Reds one of those teams? They certainly can be — their postseason appearance this year at least gives them the look of a team on the rise — and they may be one of few contending franchises with the ability to offer Pagán the closer job.

However, if Krall's comments are any indication, the Reds might let their ninth-inning fireman test the open market before engaging in any negotiations. If that comes to pass, and Pagán ultimately leaves, it will be yet another indictment of this front office and ownership's unwillingess to spend what is necessary on a contender.