Cubs Among Teams to Submit Bid for Negotiating Rights to Hyun-jin Ryu

According to reports from the Tribune and the Sun-Times, the Cubs were among teams that submitted a bid for left-handed pitcher Hyun-jin Ryu prior to Thursday’s deadline. Teams had until 4:00pm CST to place a sealed bid for the rights to negotiate a contract with Hyun-jin Ryu.

The Hanwha Eagles of the Korean Baseball Organization posted Ryu and have four business days to decide if they will accept the highest bid. If the Eagles accept the bid, the winning team has 30 days to negotiate a contract with Hyun-jin Ryu, who is represented by Scott Boras.

The 25-year old southpaw has been compared to the Orioles Wei-Yin Chen according to the Tribune. Ryu throws a high 80s to low 90s fastball with a plus change-up.

The Rangers are reportedly one of the other teams to place a bid for Ryu and both the Phillies and Indians have been linked to Hyun-jin Ryu.

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  • paulcatanese

    Scott Boras his rep? Better find somewhere to get a loan.

  • Tony_Hall

    Neil – Have you seen anything or have any thoughts on the expected range of the posting fee or contract that Hyun-jin Ryu will receive?

    • http://chicagocubsonline.com/ Neil

      Tony, I’m sorry this has taken so long … been one of those days.

      A report out of Korea is indicating a much higher bid than I thought

      OSEN is reporting that a still unknown MLB team bid $25,737,737.33 for Ryu Hyun-jin and the Hanwha Eagles have accepted.

      I’m not going to answer the rest of your question because if this report is accurate, it is more than I thought.

      • Tony_Hall

        It’s only money…..

        The hard part here is weighing the cost in money to sign him, versus the cost of signing a FA, versus the cost in prospects (if you dollarize their cost) and seeing which one is the best value. Of course, right now we have more actual dollars than prospects, so I see them choosing FA or Ryu who is younger than any of the FA’s.

        But if the posting fee is equal to the contract, then $50M better be at least a 5 or 6 year deal, to get it close to $10M/year, which would be ok, if he ends up even as a solid #4, great if he is a #3.

      • Tony_Hall

        mlbtraderumors just posted it and people are guessing Cubs and Dodgers, mostly Cubs, as this is one way a rebuilding team can still overpay to bring in players.

  • coachdon

    What is the point of adding another soft tossing lefty. We have plenty of them to go around now that I would rather see get a shot, ie. Rusin, Raley, Jokisch, Kirk, etc.

  • Dorasaga

    I’m all for the spending if the southpaw can pitch. Who cared if Moyer was 40 years old and tossing 83 mph when he pitched for the Phillies in October?

    But I’m also skeptical when it comes to Korean pro (KBO) players. I’ve seen a few who were very, very good at int’l tournaments (one of them a big leftie), but flamed out in 3 years since.

    The over-use since high school has always been there, but the overall level of competition at KBO has not been the equal to Japan’s or even AAA’s. Ryu might be a Major-ready with a healthy-arm in two years, or he might be a worn-out AA player who’ll never get it. There’re too much risk involved, unless of course, controlled by a very good evaluation system specifically designed for Korean players.