Holy Smokes: The Winning Bid for Hyun-jin Ryu was $25.7 Million (UPDATE: Lotta Folks Say It’s Not the Cubs)

How much do the Cubs want Hyun-jin Ryu? How much do other teams?

Well, at least one team out there really, really, really wants Ryu. According to multiple reports, the winning bid for the posted Korean pitcher was more than $25.7 million – or about half of the posting fee for Yu Darvish, who was considerably more well-thought-of.

We don’t yet know who won the post, but there are rumors floating around that suggest we could hear at any time.

UPDATE 1 (at 6:51pm CT): OK, I’ll blink and say that the majority of RUMORS floating around there on Twitter, purportedly coming from Korea, say the Cubs have won. They are RUMORS and should be treated as RUMORS. But now you know the RUMORS.

UPDATE 2 (at 6:55pm CT): Danny Knobler just said that the Cubs seemed to be the most interested in Ryu, though that is, at best, him just hinting or guessing that the Cubs have won. If he knew more, he would say it.

UPDATE 3 (at 6:56pm CT): While we wait on more, here’s what I wrote about Ryu previously. The gist is: he could be a nice, middle-of-the-rotation starter for years, if everything goes right. Based on the posting amount, the winning team seems to think he’s a mortal lock for a rotation.

UPDATE 4 (at 6:59pm CT): Jon Heyman (who was among those who “confirmed” last week’s Haren/Marmol trade) says the Cubs bid aggressively, but did not win.

UPDATE 5 (at 7:24pm CT): Obligatory jokes about “sources” and “confirming” aside, Gordon Wittenmyer says sources have confirmed to him that the Cubs did NOT win the bid for Ryu.

UPDATE 6 (at 7:36pm CT): Evan Grant says he hears it wasn’t the Rangers, but he also cautions that folks heard a lot of wrong things back when Darvish’s posting was happening. Tentatively sounding like it’s the Dodgers. Or some other team. Or the Cubs. But probably not the Cubs. Probably the Rangers. Or not.

UPDATE 7 (at 8:01pm CT): Buster Olney says “other teams suspect” that it’s the Dodgers.

UPDATE 8 (at 8:05pm CT): Ken Rosenthal hears the Dodgers were aggressive in the bidding.

UPDATE 9 (at 8:41pm CT): Phil Rogers joins the parade of folks saying it isn’t the Cubs.

Brett Taylor is the editor and lead writer at Bleacher Nation, and can also be found as Bleacher Nation on Twitter and on Facebook.

127 responses to “Holy Smokes: The Winning Bid for Hyun-jin Ryu was $25.7 Million (UPDATE: Lotta Folks Say It’s Not the Cubs)”

  1. Korean goat

    cubs win? from cbs sports. really? wow

    1. MichiganGoat

      That’s based a inaccurate tweet that now dismissed

  2. Chris

    This is going to give more fodder to Kyle about coming in second on bids. Can’t wait for those posts… At least this guy doesn’t appear to be as talented as Cespedes or Darvish. It would have been good to see them win a bid like this, but maybe it’s for the best that they just spend the money on a proven major league pitcher.

    1. Chris

      Guess I’m late on this one… I see Kyle has already spoken.

      1. Kyle

        But note that I also said that I don’t particularly want him at that price. They did nothing wrong getting outbid here.

        1. Chris

          Agreed. This may have turned out to be a regrettable move, similar to someone buying a Fukudome head band in April of 2008. All sales are final…

  3. Kalamazoo Cubs

    Pass…

  4. Cubs1967

    considering theo’s track record of blowing cespedes when he was all but ours except theo doesn’t want to try to win till year 5 of his contract so he blew him off(as the a’s won the division becuz of him), the disaster known as dice-K, and the 8M pissed away on gerardo concepcion; best the cubs don’t win this bid. soler may be the real deal. 1 out of 4 doesn’t cut it for the cubs.

    1. Chris

      If you’re going to count Concepcion, you have to count Paniagua, IMO. In very limited duty, Paniagua looks like the real deal. 2 for 5 isn’t awful, and there’s still a little time for Concepcion to get healthy. I think Concepcion and Soler are friends, so it might be worth considering how much that played a role in the Cubs signing him too. $8m is reasonable compared o $25mil to the Korean team and then whatever else the contract with Ryu will come to.

    2. Psy

      Cubs wanted Cespedes for 6yrs. Boras wanted 4yrs A’s jumped in and took it. Now there’s 3yrs left, by the time we’re competitive he’s as good as gone. Also why would you add in Dice-K to 3 adds the FO made this year. This is 2012 not 2007, I don’t see the relevance. What impact does Dice-K have to the current Cubs team. I’ll give you 1 for 3. 1 for 4 that’s a stretch.

      1. AB

        cubs67 is a proven oaf/troll. don’t waste much time responding to it.

  5. steve jones

    Bret,
    my antivirus displayed that you have a trojan horse virus coming from your site. i hpoe you get this cleaned, as this is my favorite daily site to visit. sending from my phone.

    1. DoubleDown

      Yes, there is a trojan virus coming from the site.

      1. DoubleDown

        Yes. The first you will notice is capitalized letters you typed as not being capitalized. then there will be letters missing from what you typed. Then your computer starts working slowly. Then your computer shuts dow for no reason. Yes it is a VIRUS.

    2. DoubleDown

      Do not log into BleacherNation as an administrator until this problem is fixed! It can wipe out your computer.

  6. P Hertz

    Thank god.

  7. P Hertz

    That’s a lot of money for a LOOGY.

  8. Mike S

    Found this on youtube. Besides the fact that he’s a good pitcher, I love South Korean umpires.

  9. Mike S
    1. DoubleDown

      That was funny.

    2. NCMoss

      I would say that umpire was the highlight of the video. That or the batter spinning around like 3 times.

      1. DoubleDown

        The helicopter thing! Yes. Fukudome special.

  10. daveyrosello

    Now I get to crow “told you so”, lulz…………of course the Dodgers would post the top bid, like I said, they’re rolling in $$ and management is spending it with abandon. But like the Boston trade, I don’t think they’re spending it wisely. Glad the Cubs didn’t commit $25MM to an unproven Korean pitcher. Yikes.

    $25MM = 2 years each of Marcum and Liriano.

  11. fortyonenorth

    Darvish’s $51 million posting fee (amortized over his 6-year contract) is going to look like a bargain if this kids gets the 2 yr./20 mil. that Boras is looking for. Do the math: 25 mil. posting plus $10 mil/yr is $22.5 mil per year. If we’re willing to drop that kind of change, there are much better (i.e. safter) bets out there. Beside, regardless of the money, I have to wonder how much genuine interest the Cubs have in signing a 2-year deal. It doesn’t make sense, doesn’t match with our time frame.

  12. #1lahairfan

    Didn’t Brett or Luke predict that the winning bid would be 8-10 million?

    1. MichiganGoat

      Yeah and that seems about right for pitcher with a high ceiling of a 3/4 starter, compared to Yu Darvish’s post fee and contract (which people thought was high then) a 25M post fee seems vastly overpaying for a pitcher with a middle of rotation projection. The Dodgers with this bid are basically saying we see you as worth half that Darvish received (which was already an overpay but at least Yu has the ceiling of being an Ace) so the question is did the Dodgers overpay – YES.