Theo Epstein Compensation: Possibly Not Done, Yet

Theo Epstein's compensation was announced weeks ago, but after Chris Carpenter underwent elbow surgery, the Red Sox are "weighing options".

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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.

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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.

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