NEW YORK — David Bednar is headed toward free agency after saving 35 games for the Yankees in 2026, leaving New York with a major decision at the back of its bullpen. The right-hander posted a 2.47 ERA in 69 1/3 innings, a performance that could make retaining him costly.
Bednar earned $9 million this season and is eligible to test the open market. The Yankees can pursue a reunion, but they also have reason to study other relievers before committing a significant portion of their offseason budget to the ninth inning.
Five names stand out as potential free-agent alternatives: Raisel Iglesias, Adrian Morejon, Bryan Abreu, Emilio Pagán and Pete Fairbanks. They are not interchangeable. Iglesias and Pagán have recent closing experience; Morejon and Abreu offer strikeout ability with fewer saves; Fairbanks would represent a bet on a rebound.
The contrast is sharpest in the 2026 numbers. Iglesias recorded 34 saves and a 2.55 ERA for Atlanta. Morejon struck out 107 batters in 86 innings for San Diego but saved only three games. Fairbanks finished with 19 saves and a 6.31 ERA for Miami.
For the Yankees, the issue is not simply who could take Bednar’s place. It is whether Brian Cashman can secure a reliable ninth-inning option without limiting the club’s ability to address the rest of the pitching staff and roster.
Bednar’s free agency creates a pivotal bullpen choice
Bednar also struck out 76 batters and posted a 1.04 WHIP over 69 1/3 innings. Those results strengthened his case for a multiyear deal after his $9 million salary in 2026.
New York could consider a qualifying offer worth $23.15 million. Letting Bednar leave would create an opening for another experienced finisher or give the Yankees a chance to reshape how Aaron Boone distributes late-inning assignments.
Two proven finishers offer the clearest replacements
Raisel Iglesias is the closest statistical match among the available veterans. The Atlanta Braves right-hander saved 34 games in 2026 while posting a 2.55 ERA, 64 strikeouts and a 1.08 WHIP in 60 innings. He also finished the regular season with 287 career saves. Iglesias will pitch at age 37 in 2027, giving the Yankees a potential shorter-term solution rather than a long-term anchor.
Emilio Pagan is another established option, provided he exercises his opt-out from Cincinnati. The right-hander had 25 saves, a 3.38 ERA and a 1.03 WHIP across 42 2/3 innings in 2026, following a 32-save season in 2025. His contract includes the right to leave one year and $10 million behind. Pagan offers closing experience without requiring New York to develop someone new for the role.
Two high-strikeout arms could change Yankees’ approach
Adrian Morejon presents a different proposition. The San Diego Padres left-hander produced a 2.83 ERA and 107 strikeouts in 86 innings across 76 appearances in 2026. His 5.1 FanGraphs WAR across 2025 and 2026 leads the free-agent relief class. But he saved only three games in 2026 while setting up Mason Miller, so a Yankees deal would involve a projection into the closer’s role rather than a proven replacement.
Bryan Abreu brings a similar trade-off from the right side. The Houston Astros reliever struck out 80 batters in 62 2/3 innings in 2026, finishing with a 3.73 ERA and nine saves. Over 25 1/3 career postseason innings, he has 42 strikeouts and a 2.49 ERA. That October record could interest a Yankees club whose bullpen needs to hold up against playoff lineups.
The difference in workload is particularly revealing. Morejon covered 86 innings, more than twice the 41 1/3 innings pitched by another candidate, Pete Fairbanks. Morejon’s value is not limited to traditional save opportunities. New York could use him against the heart of an opponent’s order before the ninth and retain flexibility elsewhere in the bullpen.
Fairbanks brings closing experience but significant 2026 risk
Fairbanks, formerly a Tampa Bay Rays closer, recorded 19 saves with the Miami Marlins in 2026 but struggled to a 6.31 ERA and 1.35 WHIP over 46 appearances. He struck out 57 batters in 41 1/3 innings. Those numbers make him the most volatile of the five potential targets.
His history explains why the Yankees might still review him. Fairbanks recorded 27 saves with a 2.83 ERA for Tampa Bay in 2025, and he has 109 career saves. However, signing him to replace Bednar outright would require New York to bet on a rebound rather than recent run prevention.
2026 regular season
| Pitcher | 2026 team | Age | G | W-L | SV | IP | K | ERA | WHIP |
| Raisel Iglesias | Braves | 36 | 60 | 1-2 | 34 | 60.0 | 64 | 2.55 | 1.08 |
| Adrian Morejon | Padres | 27 | 76 | 9-3 | 3 | 86.0 | 107 | 2.83 | 1.08 |
| Bryan Abreu | Astros | 29 | 66 | 6-4 | 9 | 62.2 | 80 | 3.73 | 1.36 |
| Pete Fairbanks | Marlins | 32 | 46 | 4-5 | 19 | 41.1 | 57 | 6.31 | 1.35 |
| Emilio Pagán | Reds | 35 | 35 | 5-1 | 19 | 33.1 | 34 | 4.05 | 1.05 |
Contract status and potential deal
| Pitcher | Status | Potential deal |
| Iglesias | Elected free agency Oct. 29. Earned $16M in 2026 and was a first-time All-Star. | Baseball America projects 1 year, $16M. Spotrac puts his market value at about $11.3M a year. |
| Morejon | Free agent. He’s the top reliever on the market and posted his third straight sub-3.00 ERA. | Baseball America projects 3 years, $60M, though it priced him as a starter. MLB Trade Rumors says he has a five-year case and could reach or pass Tanner Scott’s $72M deal. |
| Abreu | Free agent after his final arbitration year. He had a 5.81 ERA in the first half and 1.71 in the second. | Baseball America projects 1 year, $12.5M. Spotrac puts his market value at about $10.9M a year. |
| Fairbanks | Elected free agency Oct. 29 after a 1-year, $13M deal. He’s having thoracic outlet syndrome surgery, which usually takes 9 to 10 months to recover from. | There’s no published projection. My estimate is a low-cost, incentive-heavy one-year or two-year deal, since he could miss much of 2027. |
| Pagán | He’s under contract unless he opts out. He holds a $10M player option for 2027. After returning from a hamstring injury he had a 1.88 ERA and went 19-for-19 in save chances. | MLB Trade Rumors calls the decision a coin flip. Even as a free agent he would likely land close to $10M on a one-year deal. |
For Cashman and Boone, the choice ultimately divides into three paths: pay for Iglesias or potentially Pagán as an established finisher, spend on the younger strikeout upside of Morejon or Abreu, or seek a lower-cost recovery candidate in Fairbanks. Bednar remains the direct route to continuity. The Yankees have not settled their closer position for 2027, and their next decision will help determine how much money remains for the rest of the roster.
What do you think? Leave your comment below.
