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Dodgers bid $25.7 million to negotiate with Korean left-hander Ryu Hyun-Jin

Nov 10, 2012, 11:05 AM EDT

Ryu Hyun-Jin Getty Images

UPDATE: According to Ken Rosenthal of FOXSports.com, MLB has confirmed that the Dodgers had the winning bid of $25,737,737 and have secured exclusive negotiating rights for Ryu Hyun-Jin. They now have 30 days to work out a contract with Hyun-Jin’s agent, Scott Boras.

Given how much of an investment the Dodgers are likely to make here, it will be interesting to see whether this will take them out of the running for free agent starters like Zack Greinke, Anibal Sanchez or Hiroki Kuroda. Of course, they are spending money like it’s going out of style, so who knows.

9:29 PM, Friday: Evan Grant of the Dallas Morning News reports that the Rangers did not win the bidding. Meanwhile, Dan Connolly of the Baltimore Sun hears that the Orioles did not submit a bid.

8:59 PM: Still awaiting confirmation, but Buster Olney of ESPN.com hears that other teams suspect the Dodgers won the bidding. On a related note, Ken Rosenthal and Jon Paul Morosi of FOXSports.com were told that the Dodgers submitted an “aggressive bid.”

8:00 PM: Contrary to chatter and speculation on Twitter, Jon Heyman of CBSSports.com reports that the Cubs did not have the winning bid.

7:54 PM: Bidding for Korean left-hander Ryu Hyun-Jin came to a close yesterday at 5 p.m. ET. While it’s not clear who won exclusive negotiating rights, we do know the winning bid.

Jon Heyman of CBSSports.com reports that the top bid checked in at $25,737,737 and was accepted by Hyun-Jin’s team, the Hanwha Eagles.

Still waiting for confirmation on which team won, but the Cubs and Rangers both reportedly made bids. The team that submitted the winning bid will now have 30 days to work out a contract with Hyun-Jin. The 25-year-old southpaw is represented by Scott Boras, so negotiations won’t be easy. At this price, it’s clear the winning team views him as a starting pitcher. The Hanwha Eagles will not receive the posting fee unless a contract is eventually worked out.

Hyun-Jin checks in at 6-foot-2 and 215 pounds and has a 2.80 ERA over seven seasons in KBO. He’s not overpowering, generally sitting in the low-90s with his fastball, but he’s said to possess an excellent changeup.

  1. canadabaseball - Nov 9, 2012 at 8:00 PM

    Did the jays bid?

  2. dondada10 - Nov 9, 2012 at 8:11 PM

    I’ve never seen this guy pitch, but the photo above leads me to believe he has a more “American” delivery than other imports have had.

  3. natslady - Nov 9, 2012 at 8:24 PM

    Nats? you know, because Boras owns the team. ;)

    • D.J. Short - Nov 9, 2012 at 8:26 PM

      As reasonable a guess as any.

  4. billymc75 - Nov 9, 2012 at 8:28 PM

    Why keep it such a secret he hasn’t done anything yet

  5. dawgpoundmember - Nov 9, 2012 at 9:26 PM

    Can you imagine writing a $25737737.00 check just after signing your name on a contract to pay someone $XXXXXXXX.XX over X years? The postings amaze me.

    • dan1111 - Nov 10, 2012 at 5:06 AM

      It isn’t that surprising when you think about how the posting system works:

      1) The team that wins has far more leverage than normal to negotiate a contract with the player, because they have exclusive rights. The player has to take whatever he is offered or return to his home country for another year.

      2) There is little risk associated with a team offering a high posting fee. If they fail to reach an agreement with the player, they don’t have to pay anything, and they have prevented any other team from getting the player for a year.

    • natstowngreg - Nov 10, 2012 at 10:00 AM

      Why do they delay announcing the winning team? Makes no sense to me, but that’s how the posting system works. Same thing happened with Yu Darvish.

      Why are teams bidding millions for someone who hasn’t done anything in American baseball yet? Because that’s how the market for talent from the Japanese and other Asian leagues works. The Asian leagues want to make it difficult for MLB teams to take their tament. So they agreed with MLB on the posting system, where a handful of their players can move to MLB teams each year. In return, MLB teams have to compensate the players’ current teams.

      • natstowngreg - Nov 10, 2012 at 10:02 AM

        Oops, this was in response to scatterbrain’s question.

      • natstowngreg - Nov 10, 2012 at 10:03 AM

        Oops again, scatterbrian.

    • badintent - Nov 11, 2012 at 1:50 AM

      For Chinese, the lucky number is 8. I guess for Koreans , the lucky number is 7 as in 737,737 or maybe that’s his favorite airplane flown by John ” I might be gay or not” Travolta
      I’m Rev. Jimmy Swaggert and I approved this message/

  6. scatterbrian - Nov 9, 2012 at 10:04 PM

    Does 737 provide any clues as to who won the bid? That doesn’t seem arbitrary.

    • natslady - Nov 9, 2012 at 10:30 PM

      37 is Strasburg’s number.

      You would think the team that won the bid would recognize their amount, right? Hey, yeah, that’s US!!!!!

    • buddaley - Nov 10, 2012 at 5:22 AM

      I read somewhere (sorry, I can’t find the link) that the numbers 3 and 7 have some special meaning in Korea. Perhaps the team that won the bidding knew that.

  7. natsattack - Nov 9, 2012 at 11:18 PM

    Boeing won.

  8. bubbalynch - Nov 10, 2012 at 12:10 AM

    Dodgers won again! THINK BLUE

  9. spytdi - Nov 10, 2012 at 4:15 AM

    The Dodgers are good at winning in the offseason. Sorry, just pointing out the obvious. I’m a Cowboys fan…believe me, I know the feeling.

  10. lew24 - Nov 10, 2012 at 11:33 AM

    Being a Dodger…this is weird! They seem like a young that just won the lotto and now they want buy ever new shiney thing!

    • lew24 - Nov 10, 2012 at 2:56 PM

      Damn…sorry for the horrible grammar!

  11. chill1184 - Nov 10, 2012 at 11:47 AM

    Should we start a list on who the Dodgers aren’t interested in?

    • historiophiliac - Nov 11, 2012 at 12:20 AM

      Is there anyone?

  12. wintwins - Nov 10, 2012 at 12:40 PM

    Geez, I only clicked this so I could thumbs-up all the Street Fighter jokes and there’s nothing.
    You guys really let me down.

  13. delusionalcardsfan - Nov 10, 2012 at 9:01 PM

    Dang, that’s a lot of money to end up with Dice K. Go Dbacks!

  14. jkaflagg - Nov 10, 2012 at 10:07 PM

    Dodgers have traditionally found good value in their “Pacific Rim” imports such as Park, Nomo, Saito & Kuroda; This guy is likely as good an investment as the free agents pitchers who will soon be drastically overpaid……

  15. canadabaseball - Nov 11, 2012 at 5:48 PM

    Why dosnt a team just bid like 75 mill and not bother even making a offer to him
    ( block him for other MLB teams )

  16. ocramfan22 - Nov 11, 2012 at 11:26 PM

    The Dodgers also went long on Hyun Chi Kuo. He had 3 elbow operations in his Dodger career. The kid could still throw in the mid 90’s with a nasty curve ball. Don’t be surprised if the Dodgers sign the Korean & one of the front line free agents.

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