(Must watch video.)

This just in, from yesterday, Major League Baseball proposed an 8 million USD limit on teams in their country for players in the Korean Baseball Organization (KBO) who are eligible for posting… Video provided above by KBSnews and sources coming from different media outlets in South Korea says that the said proposal was made last September, under the United States-South Korean player contract agreement, a KBO league player who has completed 7 full seasons with his club will be granted eligibility to undergo the posting system if he so wishes. Currently as of now, MLB teams can submit non-capped bids on a player in a silent auction, and an MLB team with the highest bid will earn exclusive negotiating rights with that said player, if a team and the player agrees to a deal within the 30 day limit, the posting money will go to the players’ KBO league team as a requital… While KBO teams can balk at any given amount made by MLB teams, it may favor the player who’re currently in the process of negotiating… A team can only have little leverage since they can only negotiate with one club. If the said limit bid were put in place like the ones in the MLB-NPB agreement, KBO players that are posted will have the freedom to talk to any club in the MLB that placed in the maximum bid.

Both the KBO and the MLB have been having discussions for quite a while now about the said 8 million USD posting limit signing on players who are eligible for posting… Here’s what an official said in that regard.

“The MLB Commissioner’s Office recently suggested putting a cap on the posting fee process, they’ve come up with the amount of 8 million USD, but nothing has been decided yet. We’ll soon have discussions over this issue.”

Overall, three South Korean players (1 starting pitcher and 2 position players) went through the current posting process and have already signed contracts. Kang Jung-ho (5 million USD posting money, 4 year 11 million dollar contract with the Pittsburgh Pirates), Park Byung-ho (12,850,000 USD posting money, 4 year 12 million USD contract with the Minnesota Twins) and Ryu Hyun-jin, the highest of em all so far (25,737,737.33 USD posting money, 6 years 36 million USD with the LA Dodgers).

Over in Japan, the MLB-NPB have a posting fee limit process of 20 million USD for a player eligible for posting that was placed last December of 2013, the objective of it was to expand options for those players who undergoes the posting process, and allows less wealthy MLB clubs to enter the bidding war with other teams in that league on a player they are after.