The posting process for Byung-ho Park has reached a close, with the Nexen Heroes accepting a $12.85 M posting fee, according to reports out of Korea.
Byung ho park, positng fee $12.85M. Nexen heroes received that. heroes and park "satisfied"
— YongKyun Yi (@yagumentary) November 6, 2015
No word yet on the team, although it appears that revelation could be delayed until Monday night.
We all know the drill: Bidding winner has 30 days to negotiate a contract with Park. If he signs, the Heroes keep the posting fee…
— Jeeho Yoo (@Jeeho_1) November 7, 2015
As to why it takes this long:
@timwilliamsP2 Usually takes a couple of business days. Last year for the Pirates' Kang, it took 3 days before the Heroes found out who won.
— Jeeho Yoo (@Jeeho_1) November 7, 2015
@timwilliamsP2 I just think they follow some formal protocols or something.
— Jeeho Yoo (@Jeeho_1) November 7, 2015
We can already see the Kang effect here, as Park’s posting fee was more than double what Kang fetched ($5 M). Park’s fee was also more than what Kang was guaranteed in his four-year deal ($11 M).
We know that the Pirates had front office members watching Park in August, but it’s hard to say whether they’d go this aggressively for him with Josh Bell in Triple-A. Park will most likely get more than Kang’s four-year, $11 M, especially with this posting fee. If we assume the salary sees the same percentage increase as the posting fee, then Park would be looking at just over $28 M in a four-year deal, which would be about $7 M per year. When added to the posting fee, that would make him a $10 M per year player.
This is only speculation over his cost, but at that price, he pretty much has to be a starter at first base, worth about 1.7 WAR per season. At first base, that would mean about an .800 OPS with good defense.
I wouldn’t assume either way on whether the Pirates are involved here, but their aggressive plunge into the KBO hitter’s market last year makes this a situation to follow until we find out the team.