Terry Francona isn't giving up on one Reds pitcher fans already wrote off

Most Cincinnati Reds fans have already written off Nick Martinez's return to the organization. After accepting the Reds' $21-million qualifying offer last year, Martinez became a free agent this offseason. While it's clear that the Reds would love to retain him, a reunion may not fit into Cincinnati's budget for the 2026 season.

The Reds' 2026 payroll is expected to be similar to last season's $119 million mark, meaning Cincinnati only has about $20 million to spend this offseason. MLB Trade Rumors predicts Martinez could command a 2-year, $25 million contract this offseason. While that number is certainly manageable, a multi-inning reliever isn't the only position the Reds must address this offseason.

In a recent interview, Reds manager Terry Francona spoke highly of Martinez, but admitted that re-signing him may be difficult after saying the right-hander may have "priced himself out" of playing for Cincinnati next season.

Terry Francona isn't giving up on one Reds pitcher fans already wrote off

Martinez filled multiple roles for the Reds last season. The veteran made 40 appearances, including 26 starts. Altogether, Martinez owned a 4.45 ERA across 165⅔ innings, but shined in his 14 relief outings. Martinez, in posted a 2.61 ERA, 0.91 WHIP, and recorded nine punch outs as a reliever, and undoubtedly aided in the Reds' playoff pursuit last season.

Martinez's willingness to bounce back and forth between both the bullpen and rotation makes him a fantastic fit for the Reds, but there'll be no shortage of teams looking for something similar in free agency this winter. Unfortunately for the for Reds, if Martinez moves on to greener pastures, they don't have a replacement readily available.

A pitcher like Carson Spiers — who has experience as both a starter and reliever — could replicate the type of production Martinez provided last season. Sadly, Spiers will be sidelined for at least the first-half of the 2026 while recovering from Tommy John surgery.

The Reds bullpen endured a mass exodus earlier this month. In addition to Martinez, the Reds lost Emilio Pagan, Scott Barlow, Brent Suter, and Ian Gibaut. If Cincinnati is unable to retain any of those arms heading into next season, Nick Krall will need to search high and wide in order to backfill the Reds' relief corps.

Bringing Martinez back would require the 35-year-old to accept team-friendly deal, but as Francona said during his interview, he's likely priced himself outside the Reds' price range. Unless Martinez sees value in sticking with what works, it's likely he's thrown his last pitch in a Reds' uniform.