Former Twins Reliever Now Off the Market

There are few places the Minnesota Twins need to address for 2026 more urgently than the bullpen. At this point, Derek Shelton simply doesn’t have a major-league-caliber group, and that has to change.

Much to the delight of the Pohlad family, bullpen help is often acquired cheaply by team president Derek Falvey, who has built several strong relief units without overextending himself.

A number of relievers with Minnesota ties are on the market this winter. Emilio Pagan, once acquired via trade, is one of them, but he won’t be returning for an encore.

Emilio Pagan Signs with Cincinnati Reds

When the Twins decided Chris Paddack was the starter they needed, Falvey sent Taylor Rogers and Brent Rooker to the San Diego Padres, with Emilio Pagan also coming to Minnesota in the deal. The Twins stuck with Pagan through ups and downs, and after finishing his latest stint with Cincinnati, he has opted to run it back in free agency.

The Cincinnati Reds, who were hoping to sign reliever Devin Williams before he went to the Mets, are bringing back Emilio Pagan on a 2-year, $20 million deal. He has an opt out after the 2026 season, per @Ken_Rosenthal/@ctrent

— Bob Nightengale (@BNightengale) December 4, 2025

Pagan made $8 million with the Reds last season. His new deal includes a $10 million AAV and an opt-out clause, giving him flexibility should the market improve.

During his first season in Minnesota (2022), Pagan posted a 4.43 ERA (4.21 FIP). Underlying numbers hinted at untapped potential, and the Twins were rewarded for their patience in 2023 when Pagan delivered a 2.99 ERA (3.27 FIP) and his career-low 0.6 HR/9.

Seeing Pagan sign with Cincinnati raised eyebrows, considering Great American Ballpark’s reputation for homeruns. His HR/9 has climbed to 1.4 over the past two seasons, but his 3.46 ERA (3.74 FIP) remains more than respectable. Serving as the Reds’ closer last year, he recorded a career-high 32 saves.

Last season, Pagan put up a 2.88 ERA (3.72 FIP) while giving Cincinnati stability after Devin Williams departed for the New York Mets. The Reds remain in the mix for several big names as they pursue slugger Kyle Schwaber, and they were even mentioned in a far-fetched trade proposal involving Twins star Byron Buxton.