After what seemed like weeks of wrangling, the Boston Red Sox and Chicago Cubs announced a deal that will send Theo Epstein to Chicago. Though the move has long been rumored, there was reportedly a hang-up over compensation. But now, on the first off-day of the World Series, the two sides came to an agreement, resulting in Epstein being named the Cubs' President of Baseball Operations.

The Red Sox and Cubs sent out a joint press release on Friday night announcing the move, which would go into effect immediately.

The Boston Red Sox and the Chicago Cubs jointly announce this evening that, effective immediately, Theo Epstein has resigned from the Red Sox in order to become the new President of Baseball Operations for the Cubs. The Clubs also have reached an agreement regarding a process by which appropriate compensation will be determined for the Red Sox and that issue will be resolved in the near term.

Both the Red Sox and the Cubs intend to hold press events on Tuesday, October 25 during which the Cubs intend to announce Mr. Epstein, and the Red Sox intend to announce his successor as General Manager.

Being that this is the World Series, and the league frowns on any breaking news while games are ongoing, both sides will go silent until the press conference, which is scheduled for the second off-day for the Texas Rangers and St. Louis Cardinals.

For more on the Cubs, head over to Bleed Cubbie Blue. For more on the Red Sox, visit Over the Monster.