Reds Remain In Talks With Carlos Estevez

The Reds remain in conversation with Carlos Estévez, according to Bob Nightengale of USA Today. The New York Post’s Jon Heyman first reported earlier this month that Cincinnati had interest in the veteran reliever.

More broadly, MLBTR’s Steve Adams reports that Estévez’s market has picked up this week. While there’s nothing to suggest a deal is imminent, a few teams that have been frustrated with the asking prices on free agent hitters have turned their attention to the bullpen. The relief group lagged the hitting and starting pitching markets for most of the offseason, but that has changed the past two weeks. Chris Martin, Andrew Kittredge, Jeff Hoffman, A.J. Minter, José Leclerc, Tanner Scott and Paul Sewald have all agreed to terms this month. Kirby Yates is reportedly closing in on a deal with the Dodgers, as well.

Estévez is probably the top unsigned reliever. The 32-year-old has been a reliable back-end option for the Angels and Phillies over the last two years. He turned in a 3.90 ERA with 31 saves and a plus 27.8% strikeout rate for the Halos in 2023. He was off to an even stronger start last year, working to a 2.38 ERA while fanning 25.8% of batters faced through the trade deadline.

Los Angeles dealt Estévez to the Phillies for a pair of well-regarded pitching prospects. His finish in Philadelphia was more solid than great. While he turned in a 2.57 ERA across 21 frames for the Phils, Estévez’s strikeout percentage dropped to a mediocre 20.5% clip. Despite the middling finish, Estévez still has a solid case for a three-year deal in the $30MM range.

Cincinnati had a decent relief group in 2024. They ranked 18th in earned run average despite the difficulty of pitching at Great American Ball Park. Reds relievers ranked ninth with a 24.3% strikeout rate. They subtracted one of their top strikeout arms when they dealt Fernando Cruz to the Yankees for backup catcher Jose Trevino. A full season from breakout candidate Tony Santillan could be a major boost in front of closer Alexis Díaz. Veterans Emilio Pagán and Brent Suter are back, as is lefty Sam Moll.

The biggest question is whether the Reds have the payroll space to meet Estévez’s asking price. That seemed unlikely a few weeks ago, as general manager Nick Krall said the team wasn’t working with a ton of financial margin. However, the Reds have subsequently finalized a new television contract to stay on the FanDuel Sports Networks for the 2025 season. Krall said that the TV deal allows the front office to “work a little bit more (than before) in both the free agency and the trade market.” RosterResource calculates the Reds’ player payroll around $106MM, approximately $6MM above where they ended last season.