The Cubs Did Bid on Hyun-jin Ryu

A small update to last night’s small update on the status of 25-year-old Korean lefty Hyun-jin Ryu. He is being posted by his team in Korea (a process by which MLB teams submit a single, sealed bid for the right to negotiate a contract with Ryu – whoever bids highest gets that right), and bids were due yesterday at 4pm CT.

As expected, the Chicago Cubs did indeed submit a bid for Ryu, whose team, the Hanwha Eagles, will now sort out all of the bids, select the highest (if it’s high enough), and then inform MLB of the winner. The process could take several days, and we might not know if the Cubs won the bid until next week.

How much did the Cubs bid? Who else bid? Well, we can only guess on the former – I’ve seen estimates anywhere from $5 million to $25 million, which is to say: no one knows – but the Dallas Morning News reports that, in addition to the Cubs, the Rangers, the Dodgers, and the Red Sox are believed to have submitted bids.

So now we play the waiting game. Ryu is not expected to be a game-changing import in the way that Yu Darvish was, but he is believed to be a capable big league starter, who could represent quite a bargain if he sticks as a number 3/4 starter for the next few years. In other words, the Cubs winning the bid on Ryu would be very good news (assuming they can then reach an agreement with him). Perhaps not quite on the order of landing Jorge Soler, but definitely in the Gerardo Concepcion range (at the time of acquisition) – and we were all pretty excited about that one.

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

84 responses to “The Cubs Did Bid on Hyun-jin Ryu”

  1. The Show

    Would he start in the majors or take time in the minors?

  2. Fishin Phil

    “but definitely in the Gerardo Concepcion range – and we were all pretty excited about that one. ”

    Do you have a mouse in your pocket??

    I’m still luke warm on Concepcion.

  3. Rice Cube

    Muskat blogged and said it should take four business days for the Korean club to decide whether to accept the bid. So Wednesday at the latest?

  4. North Side Irish

    He’s a little scary to me…all depends on the price. I’ve seen people call him a #3 and I’ve seen people call him a lefty reliever. Spending $25M I would like to be more sure he’s a starter. He could be a bargain or he could be an overpaid bullpen guy. The Cubs have money to spend and I guess they need to take risks…but it’s scary.

  5. 100 Years of Tears

    Brett,
    Did you figure out this weird formatting issue happening with IE? On my Mac last night I didn’t notice anything, but here at work it’s all shifted left.

    1. 100 Years of Tears

      and I’m not sure if it’s my Internet here at work or not, but the Message Board won’t load at all… NOOOOOOO!!! Need my Cubs Calendar.

  6. GDB

    Is it wrong to draw direct comparisons with what contract Liriano ends up with? Both starting lefties with a few question marks around their performance in mlb next season and beyond. Ryu seems a more exciting signing, but what bets would you place on who is the better pitcher going forward?

    I assume if Cubs get Ryu then any interest in Liriano drops off? Or should we just sign both?

  7. abe

    If the cubs are willing to spend 25 mill on a 3/4 starter (an unproven starter). Why dont they go get a real mlb pitcher with that money?

    1. hansman1982

      because the $25M gets you 6 years of a 3/4 starter whereas that would get you 2 seasons of a 2/3 starter or 1 season of a 1 starter.

  8. Idaho Razorback

    Everything is shifted to the left for me as well and none of the pictures are showing up.

  9. Jimmy james

    Did I read boras would be looking for a two year deal?

  10. North Side Irish

    Korean team has been notified of winning bid…

    John Arguello ‏@CubsDen
    Winning bid on Ryu has been sent to Hanwha, his KBO team. No word yet on who won.

    1. CubFan Paul

      what time is it in Korea?

  11. Korean goat

    a korean newspaper reporter said that the eagles team will announce the result of posting today afternoon(korean time). It is 1:10 AM now here.

    1. Rice Cube

      Yay!

    2. cubchymyst

      Awesome, not to much suspense. My guess is the Dodgers end up getting it they way they have been throwing around money.

  12. bbmoney

    Love the update from the other side of the somewhat larger pond off the US’ left coast.

  13. Korea guy

    I want to know how much is the bid for sum of money to posting system.
    How much is it?

  14. cubzforlife

    I like the idea of “buying” the right to sign the Asian players, years of control and after all it’s just money for the posting. When I think of all the millions for past flops this seems like a drop in the bucket. I’m guessing he will need a translator, companion like the last guy. Cubs pay for that too?

  15. Kevin

    For what it’s worth, I use my iPhone and never experience any problems.

  16. daveyrosello

    No site problems on a Mac with Safari………….

    As for Ryu, waste of time to consider him; if the Dodgers submitted a bid, they’ll get him, plain and simple. The new ownership is throwing around $$ like no other team in baseball.

  17. TommyK

    If the Cubs win the bid, does the amount of the bid count against the international free agent signing limit?

    P.S. I am unable to view the website at all on my Windows phone. I just get a blank white screen.

    1. Kyle

      No, posted players do not count against the IFA cap.

  18. João Lucas
  19. john

    just announced that the winning amount bid is 25million. did not anounce which team won.

    1. DoubleDown

      Let’s not go crazy over another speculative tweet.

      1. DarthHater

        I’m pretty sure @tampabaynacho won a Peabody for his reporting on an outbreak of e-coli at a Rays game last July.

  20. DarthHater

    Uh-oh. Somebody in the universe just tweeted that the Cubs won the bidding on Ryu. It better be true or it will be further proof of the total incompetence of Theo. ;-)

  21. DarthHater

    Okay, I can’t stop laughing at the winning bid amount of $25,737,737.33

    1. DoubleDown

      Wow!

    2. DarthHater

      I guess no team had the balls to bid $25,737,737.34

      1. DoubleDown

        $25,737,737.34 nobody saw the 25,739,737.99 I bid?

    3. NCMoss

      It’s all about that 33 ¢ huh?

  22. doberman1861

    For what it is worth another korean person on twitter:

    https://twitter.com/osaki_makkura/

    “Chicago Cubs have won the exclusive negotiating right for Ryu-hyun-Jin with a record $25.7 million posting fee”

    “@npbtracker Yeah, I guess. 25 mil for a set-upper is a bit too steep. Ryu will be a good one if he loses a couple of pounds in my opinion. “

  23. doberman1861

    Never mind I guess

    https://twitter.com/EyeOnBaseball/status/267068121033105408

    According to @JonHeymanCBS the Cubs DID NOT win the bid on Ryu

    1. john
  24. Cubbie Blues

    That name is a bit pervy, in an old guy with candy sort of way.

    1. Cubbie Blues

      Thanks, Ace, now it looks like I’m the crazy one.

      1. Hansman1982

        Well…if the shoe fits.

        1. Cubbie Blues

          What if it’s a pump?

          1. Hansman1982

            A pump is a shoe, isn’t it? Geez, for an engineer, you sure don’t understand your shoes.