The Cincinnati Reds need to make several important decisions this offseason, but bringing back Emilio Pagan may not need to be one of them.

Pagan was a valuable part of Cincinnati’s bullpen over the last two seasons, especially after returning from injury in 2026. Still, the 35-year-old elected free agency after declining his $10 million player option, and a return would likely require the Reds to give him a multi-year contract worth even more annually.

That is a difficult case to make for a team with plenty of bigger needs across the roster.

As RedsInFour pointed out on X, the Milwaukee Brewers just won the World Series with an elite bullpen that was built largely through internal development. Their top relievers were either making modest salaries or remained under team control. Milwaukee did not need to spend top dollar on veteran relievers to create one of baseball’s best bullpens, and the Reds should take notice.

The Reds Have More Important Needs

Not only did the Brewers not have to spend a ton on their bullpen, but they proved that teams can develop a dominant bullpen internally. The Brewers developed their arms and gave them opportunities to succeed.

None of this is a knock against Pagan. He was fantastic over the last two seasons, especially after coming off the injured list in July. He had an ERA under two, which is all you can ask for. However, paying a 36-year-old reliever more than $10 million per year on a multi-year deal is a risky investment for a small-market team with so many other holes to fill.

The Reds still need to figure out how to improve their offense. They still need to decide whether to bring back Tyler Stephenson or sign a catcher in free agency. They also need starting pitching help, with Hunter Greene set to miss the 2027 season and many of their starters taking a step back in 2026.

Simply put, the Reds cannot afford to spend a large portion of their available payroll on an aging closer. Pagan deserves to be paid and he most likely will be, but it shouldn't be with the Reds.

Focus on Development

The Reds need to do a better job of developing bullpen arms internally. They have a new pitching coach in Joe Torres and his arrival should give them a chance to improve their pitching development.

They have several pitchers in the organization who need to take a step forward, including Zach Maxwell, Luis Mey, and Connor Phillips. All three have elite stuff, but command issues have kept them from reaching their full potential.

The Reds don't need to copy the Brewers move for move, but they should be trying to build their pitching staff in a similar way.

Pagan was fantastic with the Reds, but if he is looking for multiple years and a big raise, the Reds should thank him and move on.