Emilio Pagán is one of the most interesting free-agent relievers, and MLB Trade Rumors projects him to cost his new team (whoever that is) just two years and $20 million. The Toronto Blue Jays already have one of the strongest bullpens in baseball, with their five most-used relievers from 2026 all returning, but a high-end arm like this on a short deal would be hard to ignore.
Pagán Declined His $10 Million Option with the Reds
Pagán declined his $10 million option with the Cincinnati Reds for 2027 and is heading to the open market. At 35, he’s coming off a strong finish. A hamstring injury wrecked his first half, leaving him with a 6.06 ERA. That wasn’t the end of his story, however. After the All-Star break, he was close to unhittable, going 3-0 with a 1.71 ERA, 29 strikeouts in 26.1 innings, and 18 saves, holding hitters to a .189 average.
Over two seasons in Cincinnati, he saved 57 games across 115 appearances with a 3.07 ERA, and his expected ERA (3.08). Those results were no fluke. His fastball still plays, and he strikes out better than ten batters per nine innings.
There is bound to be interest in the player.
Is Pagán An Ideal Fit For the Blue Jays?
Social media was flooded with theories about which teams might show interest. Would the Blue Jays be among them? Brandon Glick of Jays Journal thinks there’s potential on paper, but he’s not completely sold.
His age may keep the price reasonable. A two-year, $20 million deal might be a bargain for a pitcher with his recent track record. It’s the kind of deal the Blue Jays might seriously look at.
Glick writes, “The problem isn’t so much the player or the price, but rather the fit. Pagán ranks tied for eighth in saves over the past two years; there’s no reason for him to accept a lesser role unless he wants one. Some team will happily insert him into the ninth inning next year. That team just won’t be the Blue Jays.”
Glick argues that Louis Varland and Tyler Rogers would be ahead of Pagán. As such, he asks, “Would Pagán be willing to accept a set-up man role with a contender this offseason? The answer to that question will determine whether or not he’s a candidate to end up in Toronto.”
If not, the Blue Jays might want to move on. If so, it could be worth a phone call to the agent.
Why Would Pagán Choose the Blue Jays?
If he values a contender and a World Series push over save totals, Toronto could land a high-end eighth-inning arm at a fair price. It all depends on where he sees himself in the lineup and how comfortable he is taking on a role that the Blue Jays feel is best.
If he wants to close, the Jays will have to watch someone else sign him.
Either way, Pagán is one of the more intriguing relievers on the market, and a quiet test of how much the Blue Jays want to stack an already strong bullpen.
Blue Jays Possible $20M Bullpen Target a Perfect Fit on Paper