When word emerged that the New York Yankees were entering the bidding for the negotiating rights to superstar Japanese pitcher Yu Darvish, the conventional wisdom dictated that the notoriously free-spending Yanks would be the likely winners. According to a report from George A. King of the New York Post, that's not actually the case: citing sources with knowledge of the situation, King reports that the Toronto Blue Jays made a bid "above $40 million and possibly close to $50 million".
Even if that big bid trumps the Yankees, the Blue Jays will not be guaranteed to receive the 6-foot-5 Darvish: these bids are only for rights to negotiate with the pitcher. Should his current team, the Hokkaido Nippon Ham Fighters, accept the highest bid, the winning MLB team will have 30 days to reach an agreement with Darvish. If no agreement is reached, the posting money is returned. Darvish has a career 1.99 ERA in Japan, and King quotes an MLB talent evaluator as estimating that Darvish's actual paycheck (exclusive of the posting fee) will be in the neighborhood of $12 million per year.