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Dodgers Win Bid to Negotiate With Korean Pitcher Ryu Hyun-Jin

Major League Baseball(NEW YORK) -- When a new ownership group headlined by Magic Johnson took over the Los Angeles Dodgers, they promised money would be no issue. They've proved that again as the team placed the winning bid to negotiate with Korean pitcher Ryu Hyun-Jin, according to ESPN.com.

The team bid $25.7 million just for the right to negotiate with Ryu. The Dodgers will now have 30 days to negotiate a contract with his agent, Scott Boras.

Other teams reportedly interested in Ryu were the Rangers, Cubs, and Yankees. The $25.7 million fee will be paid to Ryu's Japanese team, the Hanwha Eagles, only if he signs with a Major League team.

The 25-year old Ryu went 98-52 with a 2.80 ERA during seven seasons in South Korea.

He also pitched for his country on teams that won a gold medal in the 2008 Olympics in Beijing and reached the championship game of the 2009 World Baseball Classic.

Copyright 2012 ABC News Radio

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