Díaz finished fifth in voting for NL Rookie of the Year in 2022, and he was chosen for the NL All-Star team in 2023 when he went 9-6 with a 3.07 ERA and 37 saves. He recorded 28 saves in 32 opportunities last season with a 1.30 WHIP, but he also began a decline that continued into this season.
Díaz lost his job as Cincinnati’s closer last month, and he was demoted to Triple-A Louisville nearly a month ago despite making $4.5 million this season.
The 28-year-old Díaz is the brother of Mets closer Edwin Díaz.
Villani, a Long Beach State product, was the Dodgers’ 13th-round pick in last year’s amateur draft.
Phillips went on the injured list May 7 with elbow discomfort, and his recovery does not appear to be going well. Manager Dave Roberts said earlier this week that Phillips’ inability to begin a throwing program was “a little concerning.”
Phillips is among of 14 Dodgers pitchers on the injured lis, a group making more than $100 million combined this season. The injured arms include starters Blake Snell, Tyler Glasnow and Roki Sasaki, and the relievers include Phillips, Kirby Yates, Blake Treinen and Brusdar Graterol.