Cincinnati Reds closer Emilio Pagán free agent after declining option

The last-place Cincinnati Reds took another competitive hit as they look ahead to next year, with the decision by closer Emilio Pagán to decline his $10 million player option for 2027.He now becomes a free agent, along with DH Eugenio Suárez and reliever Pierce Johnson, both of whom had their mutual options declined by the club – though neither the Reds nor Pagán are closing the door on a possible reunion.The deadline for option decisions in all three cases was Oct. 31.Pagán was among the best closers in the league the last two seasons, including converting 19 of 19 save chances with a 1.88 ERA after returning from a severe hamstring injury in early July. He earned a career-high 32 saves, with a 2.88 ERA, for the Reds' 2025 playoff bullpen.Barring a new deal by Nov. 2 (5 p.m. ET), he becomes eligible to talk to other teams as the MLB free agency opens.Some initial discussions were had about an extended deal before the option deadline, but there were no active talks between the sides as the deadline passed.Pagán has repeatedly said he enjoyed his time with the Reds and that he and his family love the city. The Reds have expressed similar sentiments about Pagán, whose veteran leadership with the pitching staff has been valued almost as much as his production.Neither side ruled out a reunion at some point during a free agency period all-but-certain to be interrupted Dec. 1 by a labor lockout.Pagán entered free agency after his original two-year contract with the Reds expired in 2024 and wound up back with the club on the deal he just opted out of.That deal, which paid him $10 million in 2026, was signed before he became the team's closer.Even at 35, he is widely expected to exceed the $10 million option value on any new free agent deal.This article originally appeared on Cincinnati Enquirer: Cincinnati Reds closer Emilio Pagán free agent after declining option