As of the 2024 off-season, the Cincinnati Reds find themselves in an interesting position regarding their payroll, particularly after the decisions made by two of their pitching staff members: Emilio and Nick Martinez. These two moves have significant implications for the Reds’ financial outlook for 2025 and beyond. Let’s break down the payroll situation considering both of their opt-in and opt-out decisions.
Emilio , a right-handed reliever, was one of the notable players for the Reds in 2024. After coming over in a trade with the San Diego Padres, had a solid performance, offering stability to the bullpen. Under the terms of his contract, had an option for the 2025 season, and in a move that likely surprised few, he chose to opt in for the next year. This means that will remain under contract with the Reds, and his salary for 2025 will be around **$7 million** (his option value for the year).
For the Reds, this decision could be seen as a win. provides the bullpen with experience and reliable late-inning options, and while $7 million is a bit of a financial commitment, it’s not an outlandish amount for a pitcher who can contribute consistently in high-leverage situations. With the Reds’ bullpen being one of the team’s weaker areas over the past few seasons, locking down a capable arm like helps the team avoid spending too much in free agency to address the same need.
This move will impact the Reds’ overall payroll for the 2025 season, especially since they already have several key players, including their young stars, under relatively team-friendly contracts. Keeping adds depth but also means an additional cost that wasn’t fully anticipated before the decision.
On the other hand, Nick Martinez, who was also acquired from the Padres, decided to exercise his option to opt out of his contract. Martinez had a few ups and downs in 2024 but still managed to be an effective starter/reliever hybrid, giving the Reds flexibility in how they used him. The decision to opt out, however, is based on Martinez’s belief that he could secure a more lucrative deal in the open market.
Martinez’s opt-out clause was tied to a guaranteed salary of **$6 million** for the 2025 season. By opting out, he is signaling that he expects to earn more, either through a multi-year deal or by moving to another team with a greater financial commitment. Given his strong performances and ability to work as both a starter and a reliever, it is possible that Martinez could draw interest from teams willing to offer more money or guaranteed innings. The Reds, who are not likely to engage in bidding wars for pitchers at the top end of the market, will likely move on from Martinez in this case, though the team may explore other options if they feel his departure leaves a gap in their pitching staff.
The Reds’ payroll for the 2025 season will be influenced by both these opt-in and opt-out decisions, but the overall impact is somewhat mitigated by the team’s relatively low payroll commitments in recent years. Heading into 2025, the Reds have several young, cost-controlled players, including stars like Jonathan India, Spencer Steer, and Elly De La Cruz. The team has also been able to build around low-cost starting pitching and bullpen arms.
However, the decision of to stay while Martinez departs creates an interesting financial dynamic. Here’s what the Reds’ payroll could look like after these decisions:
1. **Pagán’s $7 Million Salary**: This will go onto the books, raising the Reds’ payroll but still keeping it manageable, especially compared to other teams in their competitive tier.
2. **Loss of Martinez’s Salary**: The Reds save $6 million by Martinez opting out, which gives them additional payroll flexibility to pursue other needs, potentially investing in the starting rotation or adding depth to the bullpen through free agency or trades.
3. **Overall Flexibility**: The Reds, even with Pagán’s $7 million salary, will have room to make moves for 2025. Since they do not have heavy long-term contracts on the books, they can increase payroll slightly if necessary, especially if they want to make a run at improving their pitching staff or adding more veteran leadership.
Looking at the broader picture, the Reds are likely to continue with a strategy focused on developing young talent while selectively adding veterans to complement their core. The bullpen, in particular, will need attention, especially after Martinez’s departure, but the team can afford to be patient and pursue cost-effective options.
Pagán’s opt-in might prompt the team to target other areas of need, such as securing a durable starting pitcher or an outfielder with pop. With the flexibility provided by Martinez’s opt-out, the Reds have the resources to address these needs without compromising their long-term financial stability.
In conclusion, the Reds’ payroll for 2025 will be slightly higher due to Pagán’s opt-in, but they still retain significant financial flexibility. With a young core and a growing farm system, the team remains poised to continue building towards sustained success while making prudent, impactful moves in free agency to complement their development plan.