The Rangers, Dodgers, Phillies and the Cubs have reported put in posting bids for the right to sign Korean starting pitcher Hyun-Jin Ryu. Ryu is a 25 year old left handed pitcher, with low 90s fastball and a plus curveball. He is probably the best professional Korean baseball player. He has been called an unfortunate ace because his team is usually near the bottom of the standings. But his career record is consistent:
2006: 18-6. 2.23 ERA, 1.05 WHIP
2007: 17-7, 2.94 ERA, 1.25 WHIP
2008: 14-7, 3.31 ERA, 1.27 WHIP
2009: 13-12, 3.57 ERA, 1.30 WHIP
2010: 16-4, 1.82 ERA, 1.01 WHIP
2011: 11-7, 3.36 ERA, 1.10 WHIP
2012: 9-9, 2.66 ERA, 1.09 WHIP
The question is whether Ryu’s Korean league performance will equate to MLB performance. Most people consider Japan’s level of play around AA-AAA level. Korean league is judged around a AA level. But there are exceptions to the rule.
Yu Darvish was the most sought after Asian pitcher last season. He signed a big money contract with the Rangers (6 years/$56 million). For the Rangers, he went 16-9, 3.90 ERA, 1.280 WHIP in 29 starts.
Darvish was also 25 when put out to bid. After the earthquake delayed the 2011 Japanese baseball season, Darvish pitched 18 wins, 1,44 ERA and 0.82 WHIP in 28 starts. It was a career year for him.
This is the last loophole in the current CBA. Any player who is older than 23 with 5 pro years in his home country, does not fall under the international player signing restrictions. This is the last area where a team can “overspend” with unlimited dollars in order to get a free agent. This had been the overpay system that Epstein cultured when he was in Boston. However, it is uncertain whether Ricketts and business side of the Cubs have put the brakes on wild free agency spending for the near term.
Ryu is represented by Scott Boras, who will seek maximum dollars for his client. He may ask for more than Darvish contract, but it is doubtful that will happen since the leverage of the open market is restricted to the one winning post bid team. But even at $6 million per season, there is a risk of whether Ryu’s ability will continue once he faces a season of major league hitters. The foreign starting pitching signees have had spotty records in recent years.
For the Cubs to make a large commitment to Ryu, he would have to be the ace of their rotation for the next six years.
INSANE UPDATE: The Hanwha Eagles have accepted a bid of $25,737,737 for Ryu. The Rangers made a bid, and the Dodgers submitted "an aggressive bid," but a winner has not yet been announced. Jon Heyman reports that the Cubs made a bid but are not the post winner. Again, this puts Ryu in the $100 million contract range which is quite expensive and risky.
