Pagan has an $8 million option for the 2025 season that he's expected to exercise this offseason, Gordon Wittenmyer of The Cincinnati Enquirer reports.
Pagan missed three months of the season with a lat injury, but returned to action Aug. 10 and finished the campaign healthy. He wasn't as effective as usual over his 38 innings in 2024 (4.50 ERA, 1.34 WHIP), and given that he would be unlikely to receive a contract exceeding $8 million on the open market, it makes sense for him to run it back with Cincinnati for another season.