The Rays will also receive catcher and outfielder prospect Logan Driscoll, who the Padres selected with the No. 73 overall pick in last year’s draft. This marks the second trade between the two clubs this offseason, after the Padres sent Hunter Renfroe to Tampa in exchange for Tommy Pham and Jake Cronenworth.
Pagan recorded 20 saves in 29 chances with the Rays last season and finished with a 4-2 record and a 2.31 ERA while striking out 96 batters.
Margot is entering his fifth season in the league and finished sixth in the Rookie of the Year voting in 2017. He hit 12 home runs and 37 RBIs last season while holding a .234 batting average.
“He’s still only 25-years-old,” Rays general manager Erik Neander said, via Josh Tolentino of The Athletic.
“We think there’s still some upside in the bat. Really want to be at a strength with our position group entering the season.”
More from Yahoo Sports: