The Cincinnati Reds are retaining closer Emilio Pagán on a one-year contract with a player option for 2027, the team announced Thursday.
Ken Rosenthal and C. Trent Rosecrans of The Athletic reported the agreement was for two years and $20 million Wednesday.
Pagán posted a 2.88 ERA and 3.72 FIP over 68 2/3 innings in his second season with the Reds this past year.
The 34-year-old's 32 saves in 2025 ranked second in the National League behind only San Diego Padres righty Robert Suarez.
Set to enter his 10th MLB season, Pagán boasts a 3.66 ERA and 1.07 WHIP with 65 saves over 506 2/3 career innings.
He's the most recent free-agent closer to go off the board. Earlier this winter, Devin Williams signed with the New York Mets, Ryan Helsley joined the Baltimore Orioles, and Raisel Iglesias re-signed with the Atlanta Braves.
