In what could be considered the first major in-season trade of 2025, the Dodgers acquired Alexis Diaz from the Reds on May 29. Diaz was in Triple-A when the trade occurred, as the former NL All-Star has yet to get into a true groove since 2013, when Diaz was among the best relievers in the game.

A Look at Diaz

• RP Alexis Diaz (12.00 ERA, three strikeouts over six innings)

The younger brother of Edwin Diaz, Alexis Diaz emerged as a strong reliever in his rookie season back in 2022. Diaz took a while to develop, as the 2015 draft pick missed 2016 with injury, and didn’t get out of short-season ball until 2019.

Diaz excelled as a full-time reliever when Minor League Baseball returned in 2021, and in 2022, he struck out 83 over 63.2 IP and picked up 10 saves. The following year, Diaz finished third in the National League in saves (37), struck out 86 over 67.1 IP, and looked to be a future star closer.

But the 2024 season proved to be very different for Diaz. He found himself in lengthy battles on the mound, wasn’t missing as many bats but still managed to be effective. Diaz had a great September, as he tossed nine scoreless innings and struck out eight.

However, 2025 proved to be Diaz’s toughest test. He walked five and gave up five earned runs in Spring Training, and rumors circulated that Diaz would start the season in Triple-A. He wound up on the IL with a hamstring strain. When he returned, he gave up four home runs and eight earned runs over six innings.

Not only did Diaz lose the closer job permanently to Emilio Pagan, the Reds sent him back down to Triple-A in May.

Between his rehab assignment and in May when he returned to Louisville, Diaz walked 12 over 13.2 IP with 16 strikeouts in Triple-A.

When Diaz has been at his best, the righty was able to inundate hitters with a low-to-mid-90s fastball, along with a sharp high-80s slider. Diaz doesn’t have an overwhelming four-seamer on paper. But, one could consider him the poster boy for the flat approach angle, as that fastball can zip by hitters with a very low arm slot that causes rising action.

The slider, however, has not been a strong suit. Diaz’s lost action on the slider over the years, specifically with regards to how it doesn’t break down as much as it did. It’s actually risen in mean vertical break (2.5”) between 2022-24, a conundrum for a pitch that needs to be down & away to same-sided hitters.

Aside from those pitches, Diaz rarely used a sinker and curveball in his early days. But since then, he’s become a two-pitch pitcher. And since returning to the Minors, Diaz’s continued to be exclusive to those two offerings. His fastball topped at 96 MPH.

Then, there are the command problems. Diaz has an involved delivery and a lot of moving parts, leaving him open to having some of those parts not fully connected.

The Dodgers will have control of Alexis Diaz through at least the 2028 season. Diaz could have become a free agent after the 2027 season had the Reds not optioned and kept him down in the Minors for virtually all of May.

In return, the Reds get back ex-Long Beach State reliever Mike Villani, a 13th-round pick by the Dodgers in 2024. Villani struck out 29 over 25 frames last season for the Dirtbags. He was assigned to Rancho Cucamonga (A) to start in 2025 but didn’t pitch with the Quakes due to injury.

Villani struck out five over two scoreless innings in the ACL this season on rehab.

Analysis

The Dodgers love project relievers.

Los Angeles hit big when the Dodgers were able to resurrect Ryan Brasier‘s career with a cutter. Anthony Banda, meanwhile, significantly lowered his arm slot starting last season, which helped turn him into a key reliever for the Dodgers’ World Series run.

Diaz, by definition, is a project arm. Yes, he might be a former All-Star — but that was two years ago.

It’ll be interesting to see what exactly the Dodgers plan on doing with Diaz. There are obvious holes in his game, aside from the obvious outlined above. He doesn’t have a third offering, a pitch that can help him against left-handers. Last season, lefties posted a .737 OPS, compared to .606 against righties.

The other will be what to do with his slider. Could he add a sweeper? Perhaps. But nonetheless, it’s a high-upside pickup. And, one that the Dodgers need, given the state of their bullpen.

The Dodgers have a lengthy list of relievers currently on the IL, including Brusdar Graterol, Blake Treinen, Kirby Yates, and Evan Phillips.

As for the Reds, there was some trade talk around Diaz two years ago. The Mets, where his older brother pitches, were one team linked to him. The Reds could have likely received a significantly larger package for Diaz, had the team pulled the trigger then.

However, hindsight is 20/20. Two years ago, Diaz still had four years of control after 2023. The Reds just promoted then-prospects Elly De La Cruz & Matt McLain, and looked poised to move up the NL Central food chain.

But, a lot’s changed since then.

Check out more of our MLB coverage.