Red Sox 'Weighing Options' In Theo Epstein Compensation Mess

On Wednesday, Chris Carpenter, who had been sent to the Red Sox as compensation for the Cubs’ signing Theo Epstein as President of Baseball Operations, underwent elbow surgery for bone spurs. The Cubs had also sent minor league reliever Aaron Kurcz to Boston for a PTBNL, in order to make this a player trade. On Thursday, the Cubs received 19-year-old first baseman Jair Bogaerts to complete the deal.

Or so you’d think. Red Sox management is apparently upset about the Carpenter surgery and is "weighing options":

The club is weighing its options about what to do next, said the source. This raises the specter that the Red Sox believe the possibility exists that Carpenter was injured when he was traded to them on Feb. 21. A baseball source indicated that the teams agree that that there was no intent or prior knowledge by the Cubs that misled the Red Sox about Carpenter’s condition.

So even though there was no "prior knowledge" from the Cubs regarding Carpenter, and even though:

Carpenter, said the source, passed the Cubs’ spring training entrance physical, pitched fine early in Cubs camp before the trade, his medical records passed the Red Sox’ medical review and he passed their entrance physical as well.

… the Red Sox are apparently thinking about reopening this case. It might never end.

From Carpenter’s point of view, he’s moving on after successful surgery:

Surgery went great, time to relax for the rest of the day.. I appreciate all the support from everyone. #redsoxnation

— Chris Carpenter (@CCarp37) March 29, 2012

The Red Sox should probably do the same.

Cubs To Send 'Low-Level Prospect' To Padres For Jed Hoyer

The Cubs earlier this week sent righthanded reliever Chris Carpenter to the Red Sox as compensation for hiring Theo Epstein from Boston as President of Baseball Operations while he still had a year left on his Red Sox contract.

All’s well, right? Done with these sorts of things?

Not so fast. The Cubs also hired Jed Hoyer away from the San Diego Padres with time remaining on his deal there, to be general manager under Epstein, and promised compensation to San Diego. Thursday, we learned more about this from Scott Miller of CBS Sports:

Compensation from #Cubs to #Padres for Hoyer will be low-level minor leaguer aand probably happen late spring. Will be b4 opening day.

— Scott Miller (@ScottMCBS) February 23, 2012

And just what will this compensation consist of?

List of 12 or so plyrs Cubs & Padres have agreed on re. compensation. 1 player will come from that list later in spring.

— Scott Miller (@ScottMCBS) February 23, 2012

So, one lower-level minor leaguer heads to San Diego. That’s in addition to the two PTBNLs that will be swapped between the Red Sox and Cubs in order to make the Epstein “deal” a player trade.

No word on whether the Cubs/Padres deal will also include such things. At some point, the Cubs will be done compensating and start playing.

John Sickels: Carpenter Could Help Red Sox Soon

As you’ve no doubt heard because it’s the biggest story since man landed on the f’ing moon, the Boston Red Sox are getting a pitcher named Chris Carpenter as compensation for losing Theo Epstein to the Chicago Cubs.

Yeah, yeah … Not that Chris Carpenter. Got it. But the one the Cubs got is pretty interesting, if largely because he throws really really hard. From John Sickels’ report:

After spending most of his career as a starter, he moved to the bullpen in Triple-A last year and got hammered, posting a 6.53 ERA in 30 innings for Iowa. He fanned 28, but he also walked 23, and he walked seven more during a 10-inning trial with the Cubs. However, Carpenter made significant progress with his command in the Arizona Fall League, where he posted a 18/2 K/BB with a 3.29 ERA over 14 innings in a hitting-dominant league.

--snip--

If his Arizona Fall League performance is any indication, he could be quite effective in the majors in 2012.

According to Baseball America, Carpenter was the Cubs’ 13th-best prospect. In John’s book, he gave Carpenter a C+ grade. But minor-league relief pitchers almost always take a hit in these things, because they’re minor-league relief pitchers. As relief-pitching prospects go, Carpenter’s actually a pretty good one. If only because he sometimes hits 100 on the speed gun.

The odds are against him. But they’re more against guys who don’t throw 100. Carpenter’s obviously not as valuable as Theo Epstein. But at least the Sox are getting somebody who might actually help them.

Chris Carpenter Sent To Red Sox As Compensation For Theo Epstein

It’s been nearly four months since Theo Epstein left the Red Sox to become President of Baseball Operations with the Cubs.

Tuesday, at last, a player was sent from the Cubs to the Red Sox as compensation for Epstein, since he still had a year left on his Boston contract. Here’s the scoop:

It’s officially Carpenter and PTBNL for a PTBNL from Red Sox. #Cubs

— Bruce Miles (@BruceMiles2112) February 21, 2012

Chris Carpenter — not the Cardinals righthander — is a hardthrowing, 26-year-old righthanded reliever who made 10 major league appearances for the Cubs in 2011, posting a decent 2.79 ERA but a 1.966 WHIP, giving up 12 hits and seven walks in 9⅔ innings pitched. He was expected to compete for a spot in the Cubs’ bullpen in 2012 and could get the same opportunity with the Red Sox.

Given the fact that each side will send a PTBNL to the other to complete this deal, we cannot definitively say that the Theo compensation issue is complete.

Further, the Red Sox’ 40-man roster is full; speculation Tuesday morning was that a pitcher (perhaps John Lackey or Daisuke Matsuzaka) would be moved to the 60-day DL to make room.

Finally, the Cubs still owe the Padres a player in compensation for signing Jed Hoyer as general manager. One hopes that won’t take as long.

For more on the Cubs, visit Bleed Cubbie Blue, and for more on the Red Sox, visit Over The Monster.

Waiting For Theo

We've learned that the latest requirement from Bud Selig in the never-ending Theo Epstein Compensation Case is a request for "written arguments". How might those go?

Cubs, Red Sox Ask Bud Selig To Determine Compensation For Theo Epstein

It has been almost three months since the Cubs introduced former Red Sox general manager Theo Epstein as their new President of Baseball Operations. Epstein had one year left on his Red Sox contract when Boston ownership allowed him to leave — but asked for the Cubs to give some form of compensation for them letting him out of his deal early.

The teams have not been able to agree on compensation. Gordon Wittenmyer of the Chicago Sun-Times reports that the teams have asked Commissioner Bud Selig to take over:

Multiple sources told the Sun-Times that the Cubs and Red Sox have requested that their nearly three-month stalemate be resolved by the commissioner, a move apparently initiated by Red Sox president and CEO Larry Lucchino late last month, one source said.

This was confirmed by this tweet from MLB.com’s Carrie Muskat:

Source says #Cubs, #RedSox have asked Selig to settle Theo compensation, confirming Sun-Times story

Here’s the problem, according to Wittenmyer:

At issue is what constitutes the "valuable compensation" the Red Sox say they were promised, according to a source familiar with the team’s correspondence with the league.

It’s unclear how long Selig will take. Also unclear is whether the solution will involve ordering a specific player or players to the Red Sox or setting parameters. There appears to be no precedent for it.

In 1994, when the Cubs hired Twins executive Andy MacPhail as their general manager, they sent minor-league pitcher Hector Trinidad — a top prospect at the time — as compensation. Trinidad never pitched in the major leagues.

So even if the Cubs have to send a player (or players) considered top prospects now, that’s no guarantee for Red Sox GM Ben Cherington and his organization.

As always, we await developments. And in this case, we could be waiting a while.

Urgent: What Do We Call Jed Hoyer And Theo Epstein?

Thought there wasn't any baseball news in January? Think again. This is the most important decision of the year.

Cubs Announce Mike Quade Will Not Be Back In 2012

The Chicago Cubs announced that they are not going to bring Mike Quade back as their manager in 2012.

How Will Theo Epstein End The Cubs' Century Of Failure?

Many have tried. All have failed. The Cubs' World Series drought has reached epic length. Can Theo Epstein be the one to break it?

Theo Epstein Introduced As Chicago Cubs GM

Theo Epstein, you're on the clock. After an extended courting process, the Chicago Cubs officially introduced their new president of baseball operations at a Wrigley Field press conference on Tuesday.

Now comes the tough part: building a winner in Chicago.

Reversing the fortunes of a lovable loser franchise is familiar territory for the 37-year-old Epstein. The former Red Sox general manager was the architect of two World Series championships during his eight-year tenure in Boston, including the Red Sox' 2004 title, their first championship since 1918. Boston won the World Series again in 2007.

Epstein spoke about the marriage of maintaining tradition while improving results:

"To me, baseball is better with tradition, baseball is better with history, baseball is better with fans who care, baseball is better in ballparks like this, baseball is better during the day. And baseball is, best of all, when you win."

"I firmly believe that we can preserve the things that make the Cubs so special and over time build a consistent winner, a team that will be playing baseball in October consistently and a team that will ultimately win the World Series."

Of course, the Cubs' history of losing dwarfs even that of the Red Sox. Chicago has not won a World Series in 103 years, last appearing in the Fall Classic in 1945.

Epstein could still add to his staff, with Padres GM Jed Hoyer and Padres assistant GM Jason McLeod reportedly being targets. But the Cubs' hope is that he'll bring his blueprint from Boston.

"We won’t rest until there is a steady stream of talent [in the farm system.] We’re going to have to grind our way to the top."

Epstein left the Red Sox with one year left on his contract after a disastrous collapse caused the Red Sox to miss the postseason, launching a chaotic offseason. The compensation that Boston will receive from the Cubs is still to be determined.

For the latest news and analysis on Theo Epstein and the Cubs, check our blog, Bleed Cubbie Blue and SB Nation Chicago.

Theo Epstein To Consider Leaving Cubs In 10 Years

Theo Epstein Thanks Red Sox Fans In Full-Page Ad In Boston Globe

Theo Epstein will be formally introduced as the new President of Baseball Operations for the Chicago Cubs on Tuesday.

In Sunday’s Boston Globe, Epstein took out a full-page ad thanking the organization and Red Sox fans for a decade of memories; it’s reproduced in Pete Abraham’s “Extra Bases” online column. It says, in part:

Thank you to the Fenway faithful. You’ve been the driving force behind two World Championships, six playoff appearances, more than 700 consecutive sell-outs and some of the most dramatic moments in sports.

And most of all, thank you for supporting something much more important than any game: investment in the lives of thousands of Greater Boston kids. Your generosity has enabled the Foundation To Be Named Later to provide $5 million in grants to young people in need, fund 19 college scholarships, and host 3,200 children to Red Sox and Celtics games.

Classy move on Epstein’s part as he joins his new team, but remains a fan of his old one; it ends with the words “Go Sox”. He might want to be careful saying those words in his new city, though, where “Sox” has another meaning.

Theo Epstein Leaves Boston Red Sox, Joins Chicago Cubs

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.

If Theo Epstein Negotiations Need Mediation, Bud Selig May Step In

Commissioner Bud Selig was interviewed during Thursday night’s World Series game on Sirius/XM radio about a number of topics. When asked about the Theo Epstein compensation negotiations between the Cubs and Red Sox, Selig’s response was intriguing:

“It’s a possibility,” Selig said on the radio. “No question, it is a possibility.”

Well. That’s a statement along the lines of “definitely maybe”. There is no precedent at all for such a mediation; teams negotiating for executive compensation are probably not subject to the terms of the MLB/MLBPA collective bargaining agreement, especially if (as has been reported) no major league players would be involved in such compensation.

Selig does have an interest in getting this dragged-out saga completed; it’s now been nine days since word leaked out that Epstein had agreed to a five-year deal to become Cubs — well, we’re still not sure of exactly what his title will be, although President of Baseball Operations has been mentioned. On Thursday, the sides were either “close” or “not close”, depending on which city’s reports (Chicago or Boston) you believed, and further reports indicated that Padres GM Jed Hoyer would be joining Epstein in Chicago.

Today is a World Series off day, and conceivably an announcement could be made today — if things are settled, which they apparently aren’t. Selig doesn’t like other events distracting from the World Series, and even without a news conference introducing Epstein, all of this has certainly received a lot of attention.

It’s in everyone’s interest to get this done soon. If Selig can help that along, he ought to go for it.

Theo Epstein Putting The Band Back Together In Chicago

It's no longer just Theo Epstein and his winning pedigree in Chicago, as he's bringing along old friends to get the job done again.

Reports: Theo Epstein Compensation Agreed On; Jed Hoyer Also To Join Cubs

Bruce Levine of ESPN Chicago reports Thursday morning that an agreement is expected to be reached for compensation for Theo Epstein:

The Chicago Cubs and Boston Red Sox are expected to have an agreement on compensation that would make Theo Epstein the Cubs’ president of baseball operations at some point Thursday morning, according to a Major League Baseball source.

A source with knowledge of negotiations said: “The two sides are on the 5-yard line.”

A news conference is expected on Friday.

A tweet from David Kaplan has more possible details:

Compensation will not include ML talent but will include value but not Brett Jackson. If it’s Trey McNutt, oh well. Price of doing biz!

The ESPN Chicago report also indicates that Epstein would be given the title President of Baseball Operations, and that the Cubs would eventually hire San Diego Padres general manager Jed Hoyer to work under Epstein, as he did in Boston. However:

a source told ESPNBoston.com’s Gordon Edes late Wednesday night that the Cubs have not asked for official permission to interview Hoyer.

The ESPN Chicago report was updated to indicate that no compensation would be due to the Padres for Hoyer. As always, we await further developments.

Theo Epstein May Recruit Padres GM Jed Hoyer To Cubs, According To Reports

Theo Epstein has not yet officially joined the Cubs -- negotiations between Chicago and Boston for compensation are ongoing -- but he's already considering potential executives to join his front office. One target is Padres GM Jed Hoyer, according to both Ken Rosenthal of FOX Sports and Jon Heyman of Sports Illustrated. Hoyer, 37, worked under Epstein in Boston from 2002 until accepting his current position in San Diego in 2009.

When news first broke that the Cubs were interested in Epstein, the initial assumption was that he would assume general manager duties himself. It seems, however, that he may be elevated to the role of team president, allowing him to hire a GM.

But would the Padres allow the Cubs to poach their GM? And more importantly, does Hoyer have any desire to be poached? After all, he'd be making a lateral move, albeit to a team with far greater resources. Those answers are still unknown, but as Heyman notes, the Padres have an in-house replacement should Hoyer leave:

It's uncertain how the Padres would react to the Cubs interest in Hoyer but if he is able to go to Chicago, Josh Byrnes, who has been working as VP of baseball operations in San Diego, would be elevated to GM.

Then again, Byrnes is a potential target for the Cubs himself. Like Hoyer, he worked under Epstein in Boston, from 2002-05 until leaving to become general manager of the Diamondbacks. But given Byrnes' relationship to San Diego's current ownership, he may want to stay. Rosenthal notes:

Padres lead owner Jeff Moorad, who previously had a similar role with the Diamondbacks, hired Byrnes to be the D-backs' GM in 2005, and was instrumental in bringing Byrnes to San Diego.

Either way, expect Epstein to bring in someone -- that is, whenever the Cubs and Red Sox finally come to terms and allow the first domino to fall. 

For Theo Epstein, Maybe Boston Was Just Too Much

Was being a celebrity in his home town too much for Theo Epstein?

Report: Theo Epstein Announcement Not Expected Tuesday

If you were sitting by your computer, TV, radio or smartphone today waiting for an announcement that Theo Epstein was officially being named general manager of the Chicago Cubs, you can breathe now.

Reports from both Boston (via Sean MacAdam) and Chicago (via Gordon Wittenmyer) indicate that no announcement is likely to be made Tuesday, which is an unofficial “deadline” before the World Series begins Wednesday. Bud Selig doesn’t like major announcements of this type supposedly “distracting” from the Series, but as Craig Calcaterra points out, should that matter in the modern communication age?

… that whole “it distracts from the World Series spotlight” notion seems like an antiquated one. It’s not like it was 25 years ago when the baseball press was only able to handle one big baseball story a day due to column inches and travel and communication limitations and stuff. Fifteen things can happen on the same day and they’ll all get covered.

No one who is predisposed to watch the World Series is going to avoid it because of a story about negotiations over an executive.

It’s possible that Selig would permit an announcement Friday, an off day for the World Series. The rest of those links contains the usual speculation about who might go to Boston in compensation (possibly Trey McNutt and “a lesser prospect”), the Cubs’ rejection of requests for major league pitchers (Matt Garza, Andrew Cashner), and reports on how both sides are being “tough”.

There is one new piece of information, from MacAdam:

One issue that is not a sticking point, contrary to multiple reports, is the matter of which current Red Sox employees would join Epstein in Chicago. A mutual understanding is in place that Epstein will not “raid” the Red Sox baseball operations department.

As always, we await further developments.

Report: Red Sox Wanted Matt Garza In Exchange For Theo Epstein

Theo Epstein has signed a deal in principle to join the front office of the Chicago Cubs, and the only thing that's holding it up is that the Red Sox want compensation for their departing general manager. The rumors have the Cubs parting with a minor leaguer, most likely one who isn't a top prospect. But according to ESPN Chicago, Boston was looking for a little more at one point:

The Boston Red Sox initially wanted Chicago Cubs starting pitcher Matt Garza to be included as compensation for general manager Theo Epstein, but the Cubs refused, according to major league sources.

The real hangup probably wasn't with Garza leaving, but it was with the Cubs' refusal to include one of these doohickeys in the deal:

Garza probably would have helped the Red Sox just a bit a month ago. The Cubs are in quasi-rebuilding mode, so it didn't hurt to ask. Still, the Cubs politely declined, most likely, and negotiations are ongoing. 

Theo Epstein Negotiations 'Civil', But Do Cubs Or Red Sox Have Leverage?

Negotiations between the Boston Red Sox and Chicago Cubs over compensation for the Cubs’ signing Theo Epstein to be their general manager are now “civil and business-like”, according to Pete Abraham of the Boston Globe:

An executive familiar with the negotiations described them as “business-like, civil and moving forward over the weekend.’’ There were no indications that the talks would break down.

Sean McAdam of CSN New England wonders which team has more leverage in these discussions. He says the Cubs can afford to wait because:

If the Cubs dig in their heels and refuse to meet the Red Sox’ demands on player compensation, Epstein isn’t about to return as GM of the Sox. Such a scenario would mean the Red Sox would be paying (a presumably unhappy) Epstein some $7.5 million dollars to either serve as a lame-duck GM, or, perhaps, not work at all and take the year off, while collecting the single biggest payday a baseball general manager has ever earned.

But he then says the Red Sox can afford to wait because:

Now that the clubs are at a standstill on the matter of compensation, what’s Ricketts going to do: tell his long-suffering fan base that Epstein isn’t coming after all because the team refused to part with a minor leaguer or two? Hardly.

Precedent is on the Red Sox’ side, too. Just last month, Ozzie Guillen left the Chicago White Sox (also with a year remaining on his deal) to become manager of the Florida Marlins.

In exchange, the Marlins surrendered — without much of a fight — two of their Top 10 prospects.

There is one thing that puts a bit of time pressure on both teams — the general rule that Bud Selig doesn’t want major announcements (and this would surely count as one) during the World Series. For the Cubs, they’d certainly like Epstein to hit the ground running. For the Red Sox, they surely don’t want this to drag out for 10 more days while the bad press they’ve been getting continues.

They’d probably both like to get this done by Tuesday.

How To Solve The Theo Epstein Compensation Impasse

Larry Lucchino is reportedly playing hardball with the Cubs regarding their desire to hire Theo Epstein as general manager. Here's a modest proposal which would solve this problem.

Red Sox 'Playing Hardball' With Cubs Over Theo Epstein Compensation

You’d have thought the Cubs would be able to announce the hiring of Theo Epstein as their new general manager by now; the reports of this hiring have been circulating for four days. All that was left, the reports said, was the selection of a minor league player or two to send to the Red Sox as compensation for hiring Epstein, who had a year left on his Boston contract.

David Kaplan of CSN Chicago explains the holdup:

A current baseball executive with knowledge of the parties involved said that Boston president Larry Lucchino who is leading the negotiating team for the Red Sox in their talks with the Cubs is trying to make it very difficult for Epstein to accept his dream situation in Chicago because of his fractured relationship with his one-time protege.

Kaplan also says the Cubs have “dug their heels in” and won’t “overpay” to get Epstein out of his Red Sox deal. The article also has this remarkable quote from a source regarding Lucchino:

“Larry Lucchino is one of the most unreasonable people I have ever dealt with and because of his frayed relationship with Theo Epstein he is looking to make a point at the expense of Theo’s happiness and his desire to go to Chicago. I didn’t believe that ownership group for one second when they said that they wouldn’t stand in Theo’s way if he wanted out of Boston. They are furious that he wants out and they are trying to make a point. Theo helped bring them two World Series titles and they have no loyalty to him and his happiness. They messed with Terry Francona and that was just an incredibly pathetic move and now they are trying to make life very tough for Theo,” he said.

The Red Sox have been in turmoil ever since they completed their historic collapse and missed the playoffs last month. If what this source says is true, the Red Sox could be in for rougher times ahead. Meanwhile, the parties continue to negotiate.

John Henry Was Not A Big Carl Crawford Fan

Red Sox principal owner John Henry has come out and said that he opposed the Carl Crawford signing, and that it was the front office's decision.

Do-It-Yourself Compensation For Theo Epstein Speculation

Tired of all the endless speculation about Theo Epstein and what compensation the Cubs will owe the Red Sox for him? Now you can make up your own!

Comparing Ben Cherington's Red Sox To Theo Epstein's

Boston is beside itself with worry, but a look back reminds us that Ben Cherington, comparatively, might have it easy.

The Curious Case Of Compensation For Theo Epstein

The Cubs and Red Sox are working out compensation for the Cubs' hire of Theo Epstein to be their general manager. The teams, in uncharted waters, have yet to come to an agreement.

Theo Epstein Compensation Talks Between Cubs, Red Sox Hit Snag

Maybe "snag" isn't the best word. "Snag" can be interpreted as "impasse", and this situation isn't nearly that severe. But here's Alex Speier, on John Dennis' report:

WEEI's John Dennis is reporting that the initial day of negotiations between the Red Sox and Cubs regarding the compensation that Chicago would send to the Sox in order to hire GM Theo Epstein revealed a gap between the sides.

Reports came out Wednesday that Theo Epstein and the Cubs had agreed to a five-year contract. Given that Epstein is still technically under contract with the Red Sox, that means the Red Sox are entitled to some form of compensation. The Cubs are aware of this, and they're trying to hash it out, but perhaps unsurprisingly, the Cubs and the Red Sox have different values in mind.

According to Dennis, the Red Sox are looking for prospects. The Cubs, meanwhile, would prefer to send cash. Cash, after all, can't come back to hurt you by developing into a big leaguer and batting .300 with 30 home runs. Not directly. It can most definitely do that indirectly. Anyway.

As Dennis notes, this was the first day of talks. It shouldn't come as a shock that the Cubs and Red Sox didn't reach an immediate agreement. It could take a little while before a compromise is reached, or somebody caves.

But eventually, barring a complete surprise, this'll get done. The Cubs will send something or some things to the Red Sox, and Theo Epstein will officially take over as Chicago's general manager. Right now it's just about the little details, and the little details are unlikely to bring the whole thing down.

Ben Cherington: Theo Epstein Successor With Red Sox

According to a report, Ben Cherington has been told that he'll become the new general manager of the Boston Red Sox, taking over for the departing Theo Epstein.

Theo Epstein And The Culture Of The Chicago Cubs

The Cubs have been run like a country club for years. Changing that should be Job 1 for the team's new general manager.

Boston vs. Chicago: A Field Guide For Theo Epstein

Provided by Cubs fans as a service to Theo Epstein, so he can focus on the important stuff.

Theo Epstein, Cubs Agree To Five-Year Contract

As the Theo Epstein saga continues, Jon Heyman floated an interesting tweet early Wednesday:

can confirm epstein has deal in place with #cubs. believed to be worth $15M over 3 yrs plus $3.5M "transfer buyout''

Confirmation: good!

Three years: what?

Indeed, Heyman's three-year report was different from all the other reports, and it seems likely Heyman just made a typo, because according to ESPN:

Theo Epstein and the Chicago Cubs have agreed to a five-year, nearly $20 million deal for him to join the team, sources told ESPN The Magazine's Buster Olney Wednesday.

Everybody else is saying five years. Theo Epstein's new contract with the Chicago Cubs will be worth $15 million over five years, with an additional $3.5 million conclusion bonus. I'm not exactly sure what "conclusion bonus" means and I don't think I've heard that term before, but does it really matter? It's a bonus. It's money. It's money that Theo Epstein will receive from the Cubs.

It would appear that one of the only remaining hurdles between now and everything being official is the matter of compensation, given that the Cubs are hiring Epstein while Epstein was still under contract with the Red Sox. For this, we go back to the Heyman well:

there is a bit of discussion whether #cubs send cash or minor leaguers to #redsox for theo. so far boston prefers the $.

Maybe that seems underwhelming to you. The Red Sox aren't going to be getting anyone from off of the Cubs' major league roster. But Ozzie Guillen set the precedent, as the White Sox received two middling prospects from the Marlins in return, and the Red Sox were never going to get a top-of-the-line talent for a departing GM. They'll get C-level talent, or they'll get cash, and cash is pretty neat. You can use cash to do just about anything!

It's just a matter of time, now. Ben Cherington is considered the heavy favorite to assume Epstein's position in Boston.

Report: Theo Epstein Has 5-Year Deal With Chicago Cubs In Place

Tuesday night, the baseball world was distracted from the playoffs by multiple reports that Red Sox GM Theo Epstein was about to leave the team and take a similar position with the Chicago Cubs.

Today, Boston radio station WEEI reports that a deal may be in place for Epstein:

WEEI’s John Dennis reported Wednesday morning that Red Sox general manager Theo Epstein has agreed with the Cubs on a five-year deal worth more than $15 million.

According to Dennis’ sources, the Red Sox granted the Cubs permission to talk with Epstein late last week. The deal is expected to be finalized by the end of this week, following negotiations for compensation with the Red Sox, who have Epstein under contract for one more season.

Other reports indicate that Epstein would be given the title “President of Baseball Operations”, with current team president Crane Kenney shifting to become “President of Business Operations”.

As always, we await further developments.

If Theo Epstein Leaps, He'll Only Be Human

As much as everyone might want Theo Epstein to stay in Boston, his head or his heart might be ready for a change. And running the Chicago Cubs would certainly be a change.

Yes Theo Can

Theo Epstein "On Cusp" Of Becoming Cubs' General Manager

What's the next challenge for a GM who brought a championship to a famously cursed franchise? Doing it again somewhere else, apparently. Theo Epstein, who for now is the GM of the Boston Red Sox, is apparently close to joining the Chicago Cubs as their general manager. From Steve Buckley of the Boston Herald:

Two baseball sources have confirmed that Theo Epstein is on the cusp of leaving his job as general manager of the Red Sox to accept a position with the Chicago Cubs that is believed to include powers greater than he has in Boston, with an announcement expected to be made "within the next 24 to 48 hours."

Bombshell. The 37-year-old Epstein became GM of the Red Sox after the 2002 season, and in 2004 the team he built won the team's first championship since 1918. After the 2005 season, Epstein resigned, but before the 2006 season started, he rejoined the organization as GM and Executive Vice President.

He will reportedly replace Jim Hendry, who was hired by the Cubs just months before Epstein began his GM duties with the Red Sox in 2002.

According to Buckley, one of the holdups is that the Red Sox are expecting a hefty return from the Cubs for giving up their general manager. Carlos Zambrano is a hefty return if you think about it, but I wouldn't want to speculate. There's no word on whether the return the Red Sox are expecting is supposed to be a player, prospect, or money.

Theo Epstein, Frappucino Fan?

The Price To Pay For Theo Epstein

What the Red Sox should be asking the Cubs for in return for talking to their current GM, Theo Epstein.

So What Is Theo Epstein Really Worth ... To The Cubs?

If the Cubs want to pry Theo Epstein away from the Red Sox, it'll cost them a great deal of salary and compensation to the Sox. How much is Epstein really worth?

Chicago Cubs Ask To Speak With Red Sox GM Theo Epstein

Having fired Jim Hendry, the Chicago Cubs are in the market for a new general manager. Some days ago, the rumor was that they'd go after current Red Sox GM Theo Epstein - and that Epstein would take the job.

That would be quite the story, right? But it was just a rumor. Until now. Now, we'll have to see where this leads. Peter Abraham:

Globe colleague Dan Shaughnessy has learned from a team source that the Chicago Cubs have asked the Red Sox for permission to speak with Theo Epstein regarding a position in their organization.

The Cubs have to ask for permission because Epstein is still under contract with the Red Sox. Now, there are a few ways this could go:

(1) The Red Sox deny the Cubs' request
(2) Epstein denies the Cubs' request
(3) The Red Sox grant the Cubs' request under the condition that they are compensated if Epstein is hired away

We don't yet know how the Red Sox will respond, but they reportedly held some organizational meetings on Tuesday to discuss the situation, so it shouldn't be long.

Epstein has served as GM of the Red Sox for almost nine years. That's a long time for a GM to stay in the same place, but then, few GMs have had as much success as Epstein has, this year's September collapse be damned.

Rumor: Theo Epstein Leaving Red Sox For Cubs

According to Joel Sherman, the word around baseball is that Red Sox GM Theo Epstein will leave the Sox to run the Cubs this winter. Would the Boston native even consider such a move? And if so, why?