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Pagan exercised his $8 million player option for 2025 on Saturday.
Pagan was forced to sit out the first half of the season due to a lat injury, and he accumulated a 4.50 ERA across 38 innings upon returning in mid-August. Given his decline in performance, it was unlikely he'd receive an offer close to $8 million in free agency, so the 33-year-old righty will return to Cincinnati and likely fill a high-leverage role out of the bullpen.
