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

Nov 10, 2012, 11:05 AM EST

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.

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