Multiple reports have indicated that the Los Angeles Dodgers are closing in on a deal to acquire closer Alexis Diaz from the Cincinnati Reds. In exchange, the Dodgers are sending Mike Villani, their 13th-round pick last summer, to the Reds.
WIth @JonHeyman hear the Dodgers are close to acquiring Alexis Diaz from the Reds.
— Joel Sherman (@Joelsherman1) May 29, 2025
This comes as something of a surprise considering the reliever has struggled to the tune of a 12.00 ERA across six games. His -0.5 WAR this season has also been disappointing. In addition, Diaz has also dealt with injures that have impacted his season.
Los Angeles Dodgers have acquired Alexis Diaz from the Cincinnati Reds
The Reds closer was dealing with control issues on the mound that continued to linger in Triple-A. On Thursday, May 1st, Diaz was sent down to Triple-A Louisville following a meltdown performance that during the first game of a doubleheader against the St. Louis Cardinals.
He started the season on the injured list with a left hamstring strain. Following two rehab appearances, his struggles this season were marked by surrendering eight earned runs across a mere six innings.
He also walked five, along with only three strikeouts. So, what's the appeal of acquiring the 28-year-old closer? Well, for starters, he is a former All-Star, and the Dodgers have been hit with the injury bug more than any other team this season.
Currently, Los Angeles is missing Brusdar Graterol, Michael Grove, Michael Kopech, Evan Phillips, Blake Treinen, and Kirby Yates due to injury. All but Yates are on the 60-day IL.
The Dodgers have also lost several significant arms in their rotation. Tyler Glasnow, Blake Snell, Roki Sasaki, are just a few of the names currently dotting the injured list.
It's inevitable that, even though the Dodgers remain in first place in the National League East, they need arms that are in good health, and Diaz provides upside that comes at a low cost.
While Diaz lost his closer role with the Reds following the adversity he faced, joining a new environment could be what he needs to return to his dominance. His recent performance does not place him in a positive light, though his track record is strong, as Diaz has a career 18-14 record with a respectable ERA of 3.21 with 75 saves. In addition, has sported a solid career WHIP of 1.174.
Diaz has always been a high-strikeout, home-run-limiting pitcher, though his home run allowed rate (12.1%) is somehow higher than his strikeout rate (9.1%) this season. That doesn't sound like a pitcher who is gradually declining — it sounds like someone who is dealing with a significant injury that has greatly affected his mechanics. If the Dodgers can isolate what's wrong, this could be a season-changing pickup for a minimal cost.
Diaz is banking $4.5 million this season and acquiring him as a bullpen piece who can help to salvage some of the injury mess on the roster would benefit them greatly.