After protracted negotiations in which the Cubs held firm, the staring contest is over. Epstein is going the Cubs as President of Baseball Operations for the Cubs. Reports are that he is set to hire Jed Hoyer to be his GM to handle those day to day duties, but it'll be Epstein who will make the final decisions. Scouting guru Jason McLeod is also expected to join the front office.
The compensation is not yet decided and Epstein will be in the interesting position of having to negotiate a fair trade for himself. It isn't the first time, however. Andy McPhail also negotiated his own compensation when he was hired and decided on pitching prospect Hector Trinidad.
Ben Cherington is expected to be named the new GM of the Boston Red Sox.
Per the Tribune...
The Cubs and Red Sox released a joint statement Friday regarding Theo Epstein:
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.
Out of respect for the World Series, both clubs have agreed to forego further comment until Tuesday, the next scheduled non-game day. Further information on each club’s media availability for Tuesday will be distributed on Monday.
(Hat tip: Hubbs16 for the press release)
As expected, Jed Hoyer and Jason McLeod will also be headed to Chicago.
Kevin Goldstein will be on the score at 10 pm to discuss the deal.
All I have to say right now is...PHEW!
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