Among the 19 players who applied for free agency in 2024 announced by the KBO on January 18, the most eye-catching player was 'Korean Series MVP' Oh Ji-hwan (33). Many fans were puzzled by the announcement, as Oh had reportedly signed a multi-year contract with LG on January 19 for up to 6 years and 12.4 billion won.
On January 19, LG announced the news of the signing, saying it was the first multi-year contract for the club. The contract is for six years from 2024 to 2029, with a guaranteed amount of 10 billion won and an option of 2.4 billion won. It used the word "agreement.
Oh previously signed his first free agent contract with LG on December 20, 2019, for a total of 4 billion won ($1.6 million down payment and $600,000 annual salary) for four years. This year was the final year of the four-year contract, and the new six-year deal would begin next year. It was literally an "agreement" and no formal contract was sent to the KBO.
"Oh Ji-hwan's contract hasn't been sent to the KBO, and of course, there is no contract published," said a KBO official. For now, all we have is an agreement between LG and Oh. Since the contract was not approved by the commissioner and published after it was delivered to the KBO, the multi-year contract announced on January 19 is not valid.
According to the rules, players on non-free agent multi-year contracts were announced as free agents, but it was only a formality. Players who signed long-term contracts a year ahead of free agency include Park Jong-hoon, Moon Seung-won, Han Yoo-seom (SSG), Koo Ja-uk (Samsung), Park Se-woong (Lotte), and Kim Tae-gun (KIA), who did not apply for free agency after becoming eligible.
However, Oh Ji-hwan's decision to apply for free agency for the first time was unprecedented. It was initially announced as a non-free agent multi-year contract, but when he applied for free agency, the terms of the six-year, 12.4 billion won contract were changed to a free agent contract instead of a multi-year contract. As long as the player and the club sign a free agent contract on the same terms as promised, there is no problem under KBO rules.
Oh's free agency application is in preparation for the KBO's second draft, which has been revived after a four-year hiatus. In the second draft, which will be held on April 22, each team can place 35 players on the protected list, which automatically excludes players in their first to third years of service and players who are eligible for free agency in the current year. If Oh was under a multi-year contract, he would have to be placed on the disabled list if necessary. With Oh's free agency, LG, which has a thick roster, can protect even one more player to prevent the leakage of power. If they sign an outside free agent, they'll still have room on the 20- or 25-man roster. 온라인카지노
From LG's perspective, it was the best decision for the club's interests within the available regulations. The secondary draft was revived at the third board meeting on July 12, while the multi-year contract agreement with Oh Ji-hwan was signed six months earlier. The timing worked out well. It's a complicated and rare process, but it's also one that requires a lot of trust between the club and the player. While Oh's case is a bit different, in years where there is a secondary draft or a need for outside free agents, we've seen players strategically file for free agency after some communication with the club.
However, this is not a good thing. Repeated instances of this could be confusing and disruptive to the league. It's also possible, though unlikely, that another team could poach a player on a multi-year deal by cutting them loose from their current team. If a player on a multi-year contract declares free agency and is not included in the salary calculation for free agent ratings, the ratings of prospective free agents on the team will increase, which could be exploited by teams. It's only been two years since multi-year contracts were first allowed in the KBO, and the loopholes in the rules need to be addressed.