Pagan declined his $10 million player option for the 2027 season Saturday, Francys Romero of BeisbolFR.com reports.
After finishing the 2026 campaign with a 3.38 ERA and 1.03 WHIP across 42.2 innings, Pagan will opt out of another year with the Reds and presumably seek a multi-year deal in free agency. The 35-year-old righty has proven he can thrive in high-leverage situations while recording 57 saves across the past two seasons and will likely be a top target among teams searching for a closer.