Will the Cincinnati Reds be without closer Emilio Pagan in 2027?

Emilio Pagan holds a player option worth $10 million for the 2027 season with the Cincinnati Reds and must decide whether to exercise it or enter free agency. After posting a 1.88 ERA with 34 strikeouts in 28.2 innings following his July return in 2026, Pagan must weigh whether he can secure a larger guaranteed contract on the open market despite being 36 years old. The decision carries implications for both sides, as declining the option would force Cincinnati to find a new closer while potentially limiting Pagan's ability to land a multi-year deal given his age and lack of elite stuff compared to traditional closers.

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