Reds finalize $26M, 2-year contract with Nick Martinez and $16M, 2-year deal with Emilio Pagán
San Diego Padres starting pitcher Nick Martinez works against a St. Louis Cardinals batter during the first inning of a baseball game Sept. 23, 2023, in San Diego. The Cincinnati Reds finalized a $26 million, two-year contract with Martinez, Friday, Dec. 1, 2023, and a $16 million, two-year deal with reliever Emilio Pagán. Credit: AP/Gregory Bull
CINCINNATI — The Reds finalized a $26 million, two-year contract with pitcher Nick Martinez on Friday and a $16 million, two-year deal with reliever Emilio Pagán.
Martinez, a 33-year-old right-hander, gets $14 million in 2024 and $12 million in 2025. He has the right to opt out after the 2024 World Series and become a free agent again.
Pagán, a 32-year-old right-hander has an $8 million salary next season, and the deal includes an $8 million player option for 2025. If Pagán declines the option, he would receive a $250,000 buyout.
Pagán can earn $200,000 in performance bonuses for games finished in 2024: $50,000 each for 20 and 30, and $100,0000 for 40.
He would receive a $500,000 assignment bonus if traded.
Martinez joins a rotation that could include Hunter Greene, Nick Lodolo, Graham Ashcraft, Andrew Abbott, Brandon Williamson or Connor Phillips
Martinez made $10 million this year, when he went 6-3 with a 3.43 ERA in nine starts and 54 relief appearances in his second season with the San Diego Padres. He was 4-4 with a 3.47 ERA with eight saves in 10 starts and 37 relief appearances for the Padres in 2022.
Minnesota Twins relief pitcher Emilio Pagan throws in the fifth inning of Game 3 of an American League Division Series baseball game against the Houston Astros, Oct. 10, 2023, in Minneapolis. The Cincinnati Reds finalized a $26 million, two-year contract with pitcher Nick Martinez, Friday, Dec. 1, 2023, and a $16 million, two-year deal with Pagán. Credit: AP/Jordan Johnson
He spent the previous four seasons in Japan with the Hokkaido Nippon Ham Fighters and then the Fukuoka SoftBank Hawks.
San Diego turned down options at $16 million annually and Martinez declined options at $8 million a year.
Pagán went 5-2 with a 2.99 ERA and one save in 65 relief appearances and one start for the Twins, striking out 65 and walking 21. He is 22-18 with a 3.71 ERA and 32 saves in seven major league seasons with Seattle (2017), Oakland (2018), Tampa Bay (2019), San Diego (2020-21) and Minnesota (2022-23). He had 20 saves in 28 chances for the Rays in 2019.
All-Star Alexis Díaz had 37 saves for the Reds last year, Pagán joins a bullpen that lost Buck Farmer to free agency.