CINCINNATI -- A Reds club that already has several holes to fill this offseason was just given another big one. Cincinnati will need to locate a new closer after its bullpen anchor and leader, Emilio Pagán, made a surprising choice to decline his $10 million player option before Saturday's deadline.
By doing so, the 35-year-old Pagán became a free agent. Joining him on the open market are third baseman Eugenio Suárez and right-handed reliever Pierce Johnson, who each had his 2027 mutual option declined by the team.
Pagán first joined the Reds as a free agent before the 2024 season and moved into the closer role in 2025. In that '25 season, he recorded a career-high 32 saves while posting a 2.88 ERA in 70 appearances.
Last winter, Pagán signed a two-year, $20 million contract to remain with the Reds, but the second year was actually a $10 million player option. This past season, he was 5-1 with a 3.38 ERA and 25 saves in 45 appearances.
The 2026 season started out rocky for Pagán before he suffered a left hamstring strain in a May 5 game vs. the Cubs, which put him on the injured list for nearly two months. From his July 1 return onward, the right-hander had a 1.88 ERA in his final 30 games while going 19-for-19 in save chances.
Despite his age, Pagán will get to test a market that includes several veteran relievers such as closers Raisel Iglesias and David Bednar, as well as elite setup man Adrian Morejon, among others.
For Suárez, who was signed to a one-year, $15 million contract with a $16 million mutual option and no buyout on Feb. 3, it marks an end to his second stint with the Reds. He also starred for the club from 2015-21.
Coming off of a 49-homer season between the Mariners and Diamondbacks in 2025, the 35-year-old Suárez was unable to duplicate the results during his second tour in Cincinnati. Over 125 games, he hit 26 homers while batting .212 with a .740 OPS. Over the first three months, he hit only eight homers and also missed 25 games from April 23-May 22 with a left oblique strain.
From July 7 onward, Suárez hit 18 homers over his final 64 games, which ranked sixth in the National League during that stretch. That included hitting his 350th career home run on Sept. 22 at Atlanta.
Johnson, who came to the Reds as a free agent on a one-year, $5.5 million contract on Jan. 15, had an $8 million mutual option for 2027 that had a $1 million buyout. He was 2-1 with a 4.62 ERA over 56 appearances.
The Reds' decisions on Suárez and Johnson were expected.
After 5 p.m. ET on Monday, all three new free agents will be able to negotiate with any club.