Cincinnati

Reds

Muñoz was the lone major league veteran chosen today. The Reds claimed him from the waivers from the Cardinals last month, non-tendered him and then re-signed him to a minor league contract. Since he wasn’t on the 40-man, that made him eligible to be swooped up here, and the Astros decided it was worth it. Muñoz has a 6.73 ERA in 17 starts and 10 relief appearances as a major leaguer. Used exclusively as a reliever for the first time last season, he struck out 76 in 57 2/3 innings for the Cardinals’ Triple-A club. He’ll probably battle for a spot in Houston’s pen.

Muñoz sticks around with the Reds as extra relief depth after being non-tendered last month by the club. The 25-year-old was scooped up off waivers from the division-rival Cardinals earlier this offseason after posting an underwhelming 6.73 ERA over 93 2/3 innings across 27 appearances (17 starts) in the big leagues since the start of 2024.

Banfield returns as extra catching depth at Triple-A Louisville after going 1-for-10 over seven games this past season in his first opportunity at the highest level. He projects as an emergency backup at this stage of his development and can be safely ignored for fantasy purposes.

Feinsand adds that executives believe Schwarber may be the first major free-agent domino to fall, with a reunion in Philadelphia viewed as a legitimate possibility. The Mets, Red Sox, Reds and Pirates are also among the clubs showing strong interest in the 32-year-old slugger, who led the National League with 56 homers and 132 RBI last season. His decision looms large: once Schwarber chooses his landing spot, several teams will finally be able to pivot and execute the secondary moves they’ve been waiting on.

At least that’s the belief around the league according to Olney and Passan. The Phillies, Reds and Giants have been among the teams already linked to the 32-year-old slugger. It’s possible that his market could come into focus in the next few days during the winter meetings. Regardless of where he lands, Schwarber will continue to be a force for fantasy purposes during the 2026 season.

The deal is now official. Pagán returns to shore up the back-end of Cincinnati’s bullpen after converting 32 of 38 save opportunities to accompany a strong 2.88 ERA, 0.92 WHIP and 81/22 K/BB ratio across 68 2/3 innings over 70 appearances this past season. The 34-year-old veteran projects as a top-20 range closer for fantasy purposes heading into drafts next spring.

C. Trent Rosecrans of The Athletic notes that the deal does contain an opt-out after the 2026 season. Pagán received considerable interest from other clubs, but the 34-year-old will remain with Cincinnati for at least one more year. The 34-year-old forged a 2.88 ERA and saved 32 games in 2025, and barring another move, he should remain the stopper for the Reds in 2026.

The 21-year-old Rodríguez, who was added to the Reds’ 40-man roster last month, is hitting .275/.370/.377 with just 10 strikeouts in 81 plate appearances in the Dominican Republic. He’s probably not going to be much of a threat to break camp with the Reds next spring, but he could definitely make his major league debut at some point during the season.

Schwarber will be one of the most sought-after hitters in free agency and will certainly be offered more money by other franchises. However, as Rosenthal notes, Schwarber is from Middletown, Ohio, about 35 miles north of Cincinnati, and “he is interested in a possible homecoming, according to people briefed on his thinking.” FanGraphs estimates that the Reds have about $20 million to spend, which makes it seem unlikely they will land Schwarber.

The White Sox held on to him after his excellent 2023, hoping to cash in at the deadline in 2024, but were never able to due to injuries. They now picked up Robert’s $20 million team option and have another $20 million option for 2027. He still has elite raw ability, but has been inconsistent and injured over the last few years, which “would limit the return on any potential deal.” Still, Passan believes now is the time for a deal and lists the Mets, Phillies, and Reds as possible landing spots.