With the World Series drawing ever closer to its conclusion, and the 2026 season nearly fully capped, the Arizona Diamondbacks are soon to see many of their pending free agents hit the open market.

One such player is right-handed reliever Jonathan Loaisiga, who emerged as one of the top back-end options available to manager Torey Lovullo in the D-backs' resurgent, plus bullpen throughout 2026.

Loaisiga, at first glance, looks like quite an obvious candidate to try and bring back, given the fact that he pitched to a 2.42 ERA over the course of a heavy 67-inning workload. But the Diamondbacks have to be careful in their pursuit this offseason.

Here's why re-signing Loaisiga might be more of a risk than he's worth:

Why signing Jonathan Loaisiga could be expensive mistake for D-backs

The Athletic's Jim Bowden recently rattled off predictions for many of baseball's top free agents. Loaisiga was, unsurprisingly, one of them.

Bowden's prediction saw Loaisiga taking a teal somewhere in the realm of two years and around $20 million, comparing his potential contract to that of Kyle Finnegan, Luke Weaver, Blake Treinen and Emilio Pagán.

Bowden listed Arizona as a potential re-sign fit alongside the Philadelphia Phillies. But the D-backs may not be able to invest that amount comfortably ahead of 2027, and doing so would likely be a risk.

First, Loaisiga is 31 with an injury history. 2026 was an outlier year in more ways than one. He was both consistently effective and healthy all season.

But only one other time has Loaisiga been healthy enough to pitch 60-plus innings — that came back in 2021 with the Yankees, which was also his career-best season. He has only pitched 32 or more innings three times in his eight-year major league tenure.

In terms of actual pitching — both results and underlying metrics — Loaisiga is as good as it gets as a potential free agent target. His 3.01expected ERA and 2.88 FIP back up his results, as does his minuscule 5.0% walk rate.

But the Diamondbacks are already expecting to lower payroll in 2027, and Loaisiga does not have a track record that suggests long-term investment will not result in an oft-IL-bound pitcher. Loaisiga has had five separate stints on the injured list since that 2021 season, including multiple shoulder- and elbow-related issues.

If the D-backs had plenty to spend, and didn't need to find a way to fit hitting and starting pitching needs into a tight offseason budget, the risk would be low in paying Loaisiga.

But to hand over $10 million per season — perhaps more — for a pitcher who has regression concerns and a history of health problems could be a mistake that hinders Arizona's payroll flexibility and works against their full-season bullpen depth.