Ryu Hyun-Jin bid: Dodgers release statement regarding Korean LHP

The Los Angeles Dodgers continued their spending ways under new ownership, winning the rights to negotiate with South Korean pitcher Ryu Hyun-Jin after their $25,737,737.33 bid was highest among bidders. The Dodgers will now have 30 days to negotiate with the Scott Boras client.

In the wake of the news, the Dodgers released a statement with a quote from Dodgers GM Ned Colletti and additional background information on Ryu.

LOS ANGELES- "Today the Los Angeles Dodgers won the rights to negotiate with South Korean pitcher Ryu Hyun-jin and we are thrilled to have this exciting opportunity," said Dodger General Manager Ned Colletti. "We have watched Ryu pitch for a long time and he is another option to consider as we look to improve our team in 2013 and beyond. We'd like to thank the Hanwha Eagles and we look forward to meeting Ryu and beginning the negotiation process very soon."

Ryu has been named a Korea Baseball Organization all-star in all seven of his professional seasons. He owns a career record of 98-52 with a 2.80 ERA and 1,238 in the KBO from 2006-12.

Internationally, Ryu helped Korea to Gold at the 2008 Beijing Olympics, going 2-0 with a 1.04 ERA in his two starts, including the Gold Medal game. In 2009, he won his only start in the World Baseball Classic, allowing just two runs over 7.0 innings.

Now that the Dodgers ownership and general manager Ned Colletti have 30 days to negotiate with the South Korean native, they will need to agree to terms on a contract if they want to lure the southpaw to the United States. If the two sides are unable to reach an agreement, Ryu will return to his club in South Korea.