7:59-9:22pm: Jon Heyman confirmed the bid amount, but says the Cubs did not win the bidding. Evan Grant and Dan Connolly ruled out the Rangers and Orioles, respectively, while Ken Rosenthal said the Dodgers made an aggressive bid.
7:43pm: According to an unconfirmed report out of Korea, the Cubs have won the negotiating rights to left-hander Hyun-Jin Ryu with a bid north of $25.7M. I didn’t think the bidding would get that high at all. It’s nearly as much as the 2012 payroll of the eight KBO teams combined, just to give you an idea of the league’s economic situation. The Hanwha Eagles have unsurprisingly accepted the bid and the Cubbies now have 30 days to sign him.
There’s no word if the Yankees submitted a bid but I’m sure we’ll find out soon enough. I liked Ryu based on the little bit we know about him, but sheesh, I was thinking $25-30M for the entire package, posting fee plus contract. Obviously the Theo Epstein regime, which certainly knows a thing or two about the posting system, valued him differently.