According to our Ken Rosenthal, the San Diego Padres won the negotiating rights to Korea's current ace pitcher, left-hander Kim Kwang-Hyun. The winning bid was just $2 million. That number is a huge disappointment to Kim's parent club, the SK Wyverns, who had their sights set on at least $10 million for their most valuable commodity.
Following the 2012 season, the newly Guggenheim-owned Los Angeles Dodgers paid a $25.7 million posting fee to the Hanwha Eagles for their left-handed ace, Hyun-Jin Ryu. The total package for Ryu ended up being more than $60 million when you include the six-year, $36 million major-league contract he signed. It was rumored that the Dodgers bid well above the next-highest bid, and the deal was met with much criticism. It has worked out well so far for the Dodgers as Ryu has won 28 of his 56 starts while posting a 3.17 ERA in his first two seasons.
The expected posting fee for Kim -- based on Ryu's success with the Dodgers -- was significant. The $2 million winning bid is a shocking one for Korean baseball and SK brass. The country has made great strides internationally and to see its current best starting pitcher net less than 10% than Ryu did in a posting fee feels like a big step backward.
In fairness, Ryu is the better pitcher, with the stronger track record of health, command and a very useful change-up that Kim lacks.
Kim has been eagerly awaiting this opportunity to pitch in MLB and it appears that is unlikely to happen next season, unless SK does him a huge favor. Kim said in a press conference in late October that he trusted his team to let him have the opportunity to go to MLB. Now there is a ton of pressure on ownership to let him pursue this chance in the States while selling low on its best asset.
SK and Kim are not expected to address the media for a couple of days as they sort things out. There will be some intense conversations between the two as Kim will push SK hard to let him go.
According to KBO rules, if a deal is not worked out with the Padres, then Kim is not eligible to come to the U.S. until after the 2016 season, when he'll have full international free agency. He would turn 29 in the middle of that 2017 season.
