NOVEMBER 27: Iglesias will receive a $6MM salary in 2019, followed by $9MM and $9.125MM paydays, per Jon Heyman of Fancred (via Twitter).
NOVEMBER 21: The Reds announced today that they have agreed to a three-year deal with closer Raisel Iglesias. It will promise him $24.125MM, per MLB.com’s Mark Feinsand (via Twitter), but won’t expand the team’s control rights.
This is a fairly unusual contract agreement; though we have seen an increasing number of multi-year, arbitration-only deals, they are typically of shorter duration and in some cases give the team additional option years. In this case, though, Iglesias was playing under an unusual contract in the first place, having signed a deal that would no longer be permitted under MLB’s international rules.
Under his original contract, Iglesias had the right to exit the guaranteed portion of the deal and enter arbitration. He elected not to do so last year, but still had the right to turn down the $5MM payday he already had in hand for 2019.* Whether or not he’d have done so is not clear, but perhaps he’d have rolled the dice on boosting his salary both now and in the future. Certainly, barring a disastrous intervening campaign, it was highly likely he’d have elected to test the arb process in 2020.
Where things get confusing with this deal is the 2021 campaign, the final year covered. Under his original contract, which runs only through 2020, he did not obtain the right to elect free agency early. Accordingly, he’d already have been controlled through 2021 regardless of today’s extension. That distinguishes it in a critical way from, say, the recent extensions secured by Brad Hand (link) and Felipe Vazquez (link).
In other words, this deal is all about resolving the salary uncertainty and fixing a price tag for Iglesias. The Reds will lock into a new payday to shave off some of the earning upside for Iglesias. Instead of the $10MM total he was promised over the 2019 and 2020 seasons, with the upside to earn more in those years and in particular in 2021, Iglesias will now secure an additional $14.125MM in guaranteed money. It’s certainly possible he could have earned more than that through arbitration, with good health and continued saves tallies, particularly if he had opted into arbitration this season and secured a big new starting point.
As part and parcel of the financial maneuvering, this move represents an indication that the Reds expect Iglesias not only to remain a productive reliever, but also to hold down the closer’s role. Saves, after all, are a key driver of reliever earnings in arbitration. Of course, it’s also still possible he’ll be shipped out to another organization, but this contract may also be intended in part as a commitment to a core player.
Iglesias, who’ll turn 29 before the start of the 2019 campaign, showed quite a bit of promise as a starter in his debut season of 2015. For reasons that remain somewhat unclear, he was bumped into the bullpen in the ensuing season and ultimately slid into the ninth inning. Iglesias has since mostly functioned as a traditional closer, with occasional multi-inning appearances but not enough to stand out.
Though it’s tantalizing to think of what might have been, Iglesias has thrived as a reliever. In 163 total appearances from the pen, he has compiled 201 innings of 2.42 ERA ball with 10.2 K/9 and 3.2 BB/9, picking up 64 saves along the way. He sits in the 96 mph range with his average fastball and still leans on both a change and curve. Iglesias has been utterly dominant against righties and solid-enough against left-handed hitters; in the aggregate he’s among the game’s more effective relievers.
*The original version of this post mistakenly stated that Iglesias had decided not to opt out of his 2019 guaranteed salary. In fact, he had only previously decided against doing so in 2018.
Nice!!! This could open the door for a Syndergaard trade. Thor for Iglesias & Senzel. Let’s get it done.
Doubt the reds want thor by the time they’re contending he he will be i. His last year
The Reds make a lot of sense for Syndergaard. Resign Harvey, trade for Gray and Syndergaard, and I think the Reds could be dark horse contenders in 2019.
I agree about Syndergard making sense for the Reds, but their most likely not going to pull off a blockbuster trade for him.
I still have them picking up Patrick Corbin in my offseason predictions list, they could use a starter like him. Someone who can get a lot of ground outs and soft contact.
Yep need either him or Dallas in addition to gio Gonzalez
Do you really think they will get a set cost over the next 3 years and then immediately trade him?
I think this in all likelyhood removes him from trade talks unless a team is willing to grossly over pay for him due to cost certainty.
The Padres did it with Brad Hand.
No…Brad Hand was traded in the middle of the season! I could see the Reds making him available if they are out of it at the deadline…not now that they signed him though.
I was also about to bring up Brad Hand. The Padres trading him “immediately” is dependent on your definition of the word, but I think that trading him only a few months later still qualifies.
I would not use AJ Preller as a trend setter.
He changes his mind so often that the only sure thing about him is that he cashes the owners check each payday.
I understand what you are saying, but in the middle of the season is not a time the Reds will trade Iglesias for Thor. If they are trading for Thor then they are in contention and not giving up their closer to do so…same goes for the Mets. If they still have him in the middle of the season they will not be moving a major starter for a closer.
I just don’t see a scenario where the Reds trade Iglesias before the start of the season unless a team grossly over pays for him…Grossly as in what the Dbacks gave up for Miller type of over pay…Just my opinion!
I agree. I believe this deal just insures that Iglesias should and most likely will be traded around mid July. He’ll be the “big fish” contenders will want in their pen.
You must not pay attention to trade deadlines. Teams pay up for good arms like his. Chapman, Hand, Miller, etc
I am not sure what you are trying to say? All 3 of those guys were traded in late July just prior to the deadline….
Turning a waiver claim like Hand into a top 20 prospect by standing pat until he got maximum value was a brilliant move even if you don’t want to give Preller credit.
Cost certainty in a market that seems to soon explode would make him an amazing trade chip.
LOLOLOLOL why would the Mets do that?
I mean I think that’s closer than the Syndergaard for Bryant talks lol. Syndergaard is talented but will likely always be injury prone.
In your dreams
the mets arent interested in trading thor for only two players.
Make it Thor for Iglesias, Greene and India + one more lower level prospect then. Or something else similar where they are getting 2-3 of our top 10, but not Senzel. He’s the one guy I wouldn’t want to give up
lol. ya right. way to much.
Way too much of an over pay for Thor
lol. ya right. way to much. he is him it all the time. they would be crazy to give them iggy and 2 top picks. Iggy and 1 pick and someone else. they are not going to trade green or Senzel right now. they both are hurt and are to low on value for that.
You must be trippin… why would they give up Iggy, Greene and India for basically a rental no matter who it is?!
Rental??? Bro, Syndergaard is under contract for 3 more years. That’s not a rental player.
And your head hurts it would take the whole farm plus.
You’ve rather keep Senzel over Greene?!? Not me.
Also, the Reds currently have one of the most potent infield groups in the MLB. So adding Senzel to that mix will only make them even better! 🙂
This makes Iglesias even more of a valuable trading chip for the hapless, tanking Reds, who won’t need a closer for another decade or so.
Says the Braves fan whose team wasn’t expected to contend for 3 more years.
You mean a Barves fan…
Braves fans know about being hapless more than anyone
Please don’t judge us all on the opinions of a select few. Wishing nothing but the best for the Reds community.
The Reds have a lot of talent they could be a surprise team next season.
I think they will be in the 75-80 wins but if they start hot they can do better.
They need to obviously add to the rotation and maybe a couple bullpen pieces…I don’t know about their prospects in the outfield but they could improve there…but they have a good offense and now a closer…they said they will spend…2020 I can see it
2020 and 2021 have always been the plan
Atlanta Braves—Awesome troll job….you getting a tan coming out from under your bridge so long? All of the originality of a grandfather’s jokes on Thanksgiving. Glad you’re off school today….enjoy your free day
Your not contending for a decade comment just shows that you are among the many who don’t know much about the Reds. The ONLY thing keeping them from contending is starting pitching. When they got quality starts, they were nearly unbeatable, they just didn’t get near enough. They have already said they are going to bring in two starting pitchers, one will most likely be Sonny Gray. The new pitching coach was with him at Vanderbilt, so the ties are already there. Two good starters added to a healthy Anthony DiSclafani and a maturing Luis Castillo gives them a solid rotation. The fifth spot will probably be an open competition between Michael Lorenzen, Tyler Mahle, Cody Reed, Sal Ramano, Robert Stephenson, Homer Bailey and Tony Santillian. If Lorenzen can stay healthy as a starter, that group of 5 would be very good, coupled with a very under rated offense and extremely under rated bullpen and the Reds will be a surprise contender in 2019.
Ckeen… I’m a Reds fan and I think the Reds as a “surprise contender” in 2019 is a stretch. .500 looks good…but they have to actually acquire their targets
Apparently you don’t know baseball if you think the Reds can contend anytime soon. The decade maybe being very optimistic. As long as this ownership is in place the Reds will never win. The last 2 years the Reds ownership has received over $130,000,000 dollars from MLB alone. That isn’t counting local TV, radio, ticket sales and etc.. So while Bob and the team is stuffing their pockets the Reds make no progress to get better. If you think Dick Williams and his ground crew GM are part of the solution you need to quit watching baseball. Both are in over their heads. For the Reds to contend they must take the Rays and A’s approach and turn the roster every 4 years. As of today the Reds have a number 4 and 5 starter at best. Yes they will sign a couple of pitchers (Gio, Miley, Lynn and/or Harvey) who none are part of any kind of solution. 4.00 plus ERA’s and 10 to 12 wins isn’t impressive. Another big problem for the Reds is they truly don’t have a MLB outfielder on their team. So looking at the real picture of the Reds is anything but ROSEY!!!
Right keep on believing that.
Can we be grown ups and not refer to a grown man as Thor?
It’s easier and faster than trying to spell however it’s spelled. Remember “Salty”. Same thing except Thor is the real deal.
No, he is Thor, and I’m Batman!
Thanks…someone finally said it…
That’s really funny….Thor is a Norse God. It’s not like people call him Timmy
There is a former NFL player and current NFL analyst that is 40-years-old and prefers to be called by “Booger.” I don’t think Thor is nearly as childish.
Maybe he’s Thor becauth he worked tho hard?
Reds need to figure out what they’re going to do with Senzel. Are you starting him with the big club next year or not?
If not, dangle him in a package for a stud arm. Otherwise, the guy to deal may be Scooter. His stock is very high. Colorado, SD and depending on what they do with Kipnis, Cleveland would be a nice spot for Gennett.
Senzel, Jesse Winker and Amir Garrett to Cleveland for Corey Kluber. Senzel gives Cleveland a cheap young second or third baseman which they need, Winker gives them the OF’er they need and Garrett replaces Andrew Miller. Indians fill 3 needs on the field and reduces payroll which they desire. Kluber instantly gives Reds rotation credibility and adding another starter makes them a very dangerous team at the least.
If you make that trade, Reds need a LF.
The Reds need 3 outfielders today!! They don’t have a real starter on their team. At best all of them are number 4 or 5 outfielders.
Not a chance. Way too much…
Not a chance. Way to little. Kluber is a 2 time Cy Young winner.
How is that too much? You’re not trading for Sonny Gray here, you’re talking about a two time Cy Young winner that was 20-7 in 2018. Kluber is a bonafide number one, perennial Cy Young contender and under control for 3 years at half what he’s worth on the open market.
My god. They better be getting Bauer in that deal too!
Not really….they can call him up almost immediately
Iglesias and Senzel for Kluber, not Thor. I’m sure it would take another top 30 prospect to make it happen, but they would be the primary parts of the trade.
Gennett for Gray plus a top 15 Yankees prospect.
Billy Hamilton for a pitching prospect, preferably a ready to go, groomed as a back end of a bullpen arm.
If they do something like that it should give the Reds about 35 million to add some quality free agents, if the Reds are truly going to 130 millionth payroll.
I think the Indians are looking for OF’s not a closer! They still have Hand…
You think Scooter Gennett can bring back Sonny Gray and a top 15 prospect?
Hamilton WILL NOT bring back a young controllable set-up man!
Senzel if not traded will be in the OF in Cincinnati. Hand is good, but so is Iggy. Iggy can go multiple innings, he can close and he’s affordable for the next 3 seasons.
I think the Yankees would do that in a second, their top 15 prospects are RHP heavy. To step away from Gray, and get a Gennett, yes they would.
I don’t know if you understood what I was referring to for Hamilton, I would be looking for the equivalent of a Herget from the Reds minor league system. That is not a big ask for a Gold Glove caliber CF.
It better bring back Gray and a top 8 prospect. Gennett is the best second baseman in the NL
Reds are not trading any of their big three prospects for Kluber who’s 32 years old btw try again
Thenyou won’t get Kluber.
Exactly my point a 32 year old for a team who won’t compete until 2021 would make no sense
Senzel is the odd man out, blocked by Suarez and Scooter and by all accounts he looked like a bull in a China shop in CF in AFL before his surgery. Reds will extend Scooter for 3 years, Senzel, Jesse Winker and Amir Garrett for Kluber.
Can’t even begin to tell you how wrong you are. By all accounts Senzel looked pretty good in CF, and one of those accounts was from Eric Davis who would know. Senzel, Greene, Garrett, Trammel, Scooter and the like are going nowhere, so the slobbering and lopsided trade suggestions can cease and desist…
Scooter wont block Senzel
Ckeen1996 that is a good awful trade for the reds
You would seriously struggle to get a full bucket of used baseballs for Billy.
If they trade Seen, I’d like to see the Ray’s involved. We could trade an infielder plus a bp arm to someone else and send that piece plus for him.
What the Reds SHOULD do to become instant contenders:
J. Downs / R. Stephenson (or both)
1. C. Kluber
2. L. Castillo
3. A. DeSclafani
4. W. Miley
5. T. Mahle
CL J. Hughes
1. J. Peraza – SS
2. J. Winker – LF
3. J. Votto – 1B
4. E. Suarez – 3B
5. S. Schebler – RF
6. N. Senzel – 2B
7. T. Barnhart – C
8. B. Hamilton – CF
No way that trade offer gets any Cleveland starter.
Hockeyjohn the best NL second baseman, a top 10 closer and a second round pick isn’t enough for a 32 year old? Lol OK
A second basemen with 1 year of control is not what we need. We have Jose Ramirez for second base. That trade will not help us. No sale.
No sale because there’s no way the reds give up that much in the first place
Senzel, Winker and Garrett to Indians for Kluber. Prospects to NYY for Sonny Gray, sign Josh Harrison and bring Duvall back. Sign Jaimie Garcia to replace Garrett for LH reliever.
M. Bowman (waiver claim from St.L)
LH bench bat tbd (infielder)
Cost certainty – decent deal.
Definitely think he should be traded – when it all boils down, a closer is of no real use to the Reds for another couple of seasons.
I thought Iglesias was moved to the bullpen because of injury concerns he had in his one year starting.
Yeah I hate throwing good prospects in the pen (see Chapman, Aroldis) but Iglesias had legit durability concerns. He’s been very durable since moving to the pen
Yeah, I didn’t realize that was such a mystery either. Case solved I guess
Iglesias condition has stabilized. He’s willing to go multiple innings as a reliever and not only at the end of the game.. The Red’s use of relief pitchers could change with their new pitching coach, Derek Johnson, from the Brewers.
Finally…someone thinking outside the box. They won’t be dealing all of their young talent away for top starters. Look for them to go Harvey, Gray and use pitchers for 3-4 innings.
He was…tired shoulder…
Here’s my take, for what it’s worth. This signing indicates to me that the Reds see the future as being 3-4 innings at a time for pitchers. Let the rich teams compete for the top arms that will cost them millions. This strategy will allow small markets to compete. They didn’t sign him to trade him, and they won’t trade Senzel, Garrett, Greene or any other top prospect for an ace. It’s too expensive and too much to give up. Go get Harvey and maybe make a deal for Gray with a top prospect being the centerpiece, but dealing away 3 to 4 of them is out of the question.
What a POS move by a POS team.
?? Idiotic comment with no context. Thanks for playing though
Why would the Reds move their top prospect Senzel who is a potential 5 tool star for anybody? Dumb. They have nobody else with that type potential ready. Senzel has Ben Zobrist type potential usage at multiple positions. He will rotate in the OF, 2B and spell Suarez at 3B until/if they move Scooter or Hamilton IMO. Either or both of those two can be had and packaged with prospect pitching in exchange for starting pitching. I agree with titanic struggle in that I see them going for guys that can pitch lights out for half a game as starters. This move with Iggy indicates that very thing. While they are doing that they will see which guys can develop into SP’s that can go the distance and then ink them long term.
This is an odd deal to me on both sides. The Reds got a solid deal in my opinion and bought themselves some good will, should they want to resign Iglesias after his arbitration years end. For Iglesias, I’d have thought he and the team would push for a trade rather then resigning with how intense the competition is in the NL Central. However, at $7 mil a year, its hard not to like the deal for the Reds and their fans. It shows and intent to compete and a key piece in place should they find their way there.
Odd signing and not what I expected, but should probably work out well for both sides.
Pitches Love Velocity
Deal him now. Iglesias and Scooter Gennett to the dodgers for Alex Verdugo and other prospects.
It’s a pretty good deal, considering it’s not prohibit ably back-loaded.
Reds are in good shape, but it’s time to jump into the pool. Move the prospects (you get more next June) for Kluber, sign Dallas or Corbin (whichever one you like). That makes them relevant. As the year goes on, adjust…..that’s what makes good teams good. Stop worrying about the lineup on March 29th….worry about the one on September 1…..think like a contender……
Commit to being in the hunt…adjust monthly, weekly, daily if you have to….that’s really what makes winning teams win……Stop thinking the season is static; it’s not…..
Not easy….Cards, Brewers, Cubs are tough competition; Pirates will play .500 almost by osmosis….. But the Reds’ window is open NOW. Stop thinking about 2021….do you think the other teams will just sit there with their fingers up their —– while you get better? Not with guys like Theo and Sterns around.
Future Braves closer maybe?
reds and whites Sox will be upcoming surprise money dumpers in the next few season.
The Reds moved Iggy to the pen to save his arm. But with so many starters only going 5 innings, why not just let him start and pull him after 5? Or 3-4? They could do that with both Iggy and Lorenzen.