Former Minnesota Twins right-handed reliever Emilio Pagán is officially a free agent after declining his $10 million player option with the Cincinnati Reds for 2027, according to Francys Romero of BeisbolFR. Many are surprised that Pagán declined the option, as he is 35, had a rough start to the season and missed two months early in the year with a hamstring strain. However, he excelled upon returning from the IL on July 1, lowering his ERA from 6.43 to 3.38. He finished the year with 25 saves, a 25.9% strikeout rate and a 6.8% walk rate over 42 2/3 innings.
The Twins should be looking to add to the bullpen this offseason, and Pagán, who played for Minnesota from 2022-23, could be a target. The Twins acquired Pagán from the San Diego Padres in 2022 as part of a trade involving Brent Rooker, Chris Paddack and Taylor Rogers.
Twins should consider reuniting with Emilio Pagán
Pagán posted a 4.43 ERA with 84 strikeouts over 63 innings in his first year with Minnesota. His strikeout rate dropped significantly in 2023, as he struck out just 65 batters in 69 1/3 innings, but he had better results, recording a 2.99 ERA. He threw two scoreless innings across two postseason outings for Minnesota in 2023.
After the 2023 season, Pagán signed a two-year, $16 million contract with the Reds. His first season with Cincinnati didn't go well, as he posted a 4.50 ERA over 38 innings. He excelled in 2025, recording a 2.88 ERA with 81 strikeouts and 32 saves across 68 2/3 innings.
After the 2025 season, Pagán re-signed with the Reds on a two-year, $20 million contract. Obviously, the second year of the deal included a player opt-out, which Pagán exercised.
Spotrac gives Pagán a market value of $25,691,040 over two years. The Twins might hesitate to pay that kind of money to a reliever in his mid-30s, but it could be a risk worth taking. If Pagán continues to pitch as he did the past two seasons, he would immediately become one of the Twins' best late-inning arms. Adding Pagán in the back end of the bullpen with Jeff Hoffman and Yoendrys Gómez could make Minnesota's group of relievers one of the best in baseball.
Pagán doesn't induce many ground balls, which is a bit concerning, but his elite strikeout and walk rates make him an All-Star-level reliever. Tom Pohlad plans to increase payroll. Signing a star closer like Pagán would be a good way to start spending.
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