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The person spoke on condition of anonymity because no formal announcement had been made.

The team and Ryu had until 2 p.m. PST on Sunday to reach an agreement or else the left-hander would have returned home and the Dodgers would have been refunded the $25.7 million fee they paid for exclusive rights to negotiate with him.

Ryu is expected to join a loaded rotation next season. The Dodgers also reportedly have a deal with free-agent right-hander Zack Greinke.