South Korea’s top baseball league said Thursday it will inform Major League Baseball of the availability of a star Korean pitcher for posting.
The Korea Baseball Organization said it will notify MLB Friday that the Hanwha Eagles left-hander Ryu Hyun-jin will be up for a silent auction as part of the posting process.
The Eagles announced on Monday this week that they will make Ryu available for interested MLB clubs, clearing the way for the pitcher to join the big leagues as early as 2013.
Ryu became eligible for posting this offseason by completing his seventh KBO season. As the Eagles staggered to a last-place finish in the eight-team KBO, Ryu repeatedly said he wanted to compete in the majors next year.
Hanwha Eagles starter Ryu Hyun-jin (Yonhap News)
Ryu needed consent from the Eagles to be posted and the club, after weeks of indecision, agreed to grant the player’s wish.
Under an agreement between the KBO and MLB, requests for postings must be made between Nov. 1 and March 1 the following year. When MLB receives its notification from South Korea, it will inform all 30 big league teams of Ryu’s availability.
Once the player is posted, interested MLB teams will have four business days in which to submit their bids.
At the end of the bidding period, the KBO will be notified of the highest bid. In Ryu’s case, the Eagles will have four business days to either accept or reject the bid amount.
If the non-negotiable bid is accepted, the interested MLB team will be granted the exclusive right to negotiate with Ryu for 30 days.
The Eagles will take the bid money as a transfer fee for the player if the MLB team and the pitcher reach an agreement.
If the Eagles decide to reject the bid, the posting will be withdrawn, and Ryu will not be able to enter the bidding until Nov. 1 next year.
Ryu joined the KBO in 2006 as a second overall draft pick out of high school and made an immediate impact, becoming the first player to win both the MVP and the Rookie of the Year honors in the same season. (Yonhap News)