The first late-inning reliever shoe has dropped, with Raisel Iglesias returning to the Atlanta Braves on a one-year, $16 million deal.
The #Braves today signed RHP Raisel Iglesias to a one-year, $16 million contract for the 2026 season: pic.twitter.com/qr1SgLSHsc
— Atlanta Braves (@Braves) November 20, 2025Iglesias, who’ll pitch next season at 36, was outrageously good for the Braves in 2023 and 2024 as their closer, and then something close to quite good in 2025: 3.21 ERA, 3.31 FIP, 67.1 IP, 27.4% K, 6.0% BB, 8.6% barrel. That ERA was about 26% better than league average by ERA-, and the FIP was about 18% better.
That is all to say, Iglesias is a guy you’d love to have in a late-inning role in your bullpen, but $16 million is a whopper of a salary for a “quite good” late-inning reliever (even a nominal closer). I suppose that’s the premium associated with getting him on just a one-year deal (and let me tell you, having Shota Imanaga for just $6 million more sounds great to me (yes, apples and oranges, but it’s still a dude trying to get you outs over a certain number of innings)).
It’s not hard to imagine this offseason having a lot of these deals for relievers, where guys who COULD get multiple years will instead be nudged toward a higher salary on a one-year deal. Why? Because no one is sure what’s going to happen after the labor battle following the 2026 season.
If the Cubs are going to be involved in the late-inning market in a way they aren’t typically, which is what has been reported, I would be shocked if they are out there committing $14 or $15 or $16 million annually to a reliever. So I don’t know what this Iglesias deal says about what’s realistic, other than the Cubs might have to pony up. (Which, again, I’d be shocked, since that’s just not something they’ve ever done with relievers.)
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