Sources said that Red Sox Exec VP & GM Theo Epstein "has an agreement in place to become head of the Cubs baseball operations" and that the move "should be completed within a couple of days." Epstein will make $15M over five years, according to sources. He also will receive "a 'conclusion bonus' or 'buyout transfer,' monies that were part of his Red Sox deal but will now be paid by the Cubs," bringing his total compensation to about $18.5M. The deal was first reported by WEEI (SI.com, 10/12).
Sources said that MLB "expressed great concern over the compensation package because they do not want this deal to affect how other teams compete in the market for front-office personnel." A source said that the "compensation would involve prospects and/or cash, but no major league players would be part of the deal, following traditional precedent" (ESPN.com, 10/12).
Meanwhile, Red Sox Senior VP & Assistant GM Ben Cherington reportedly will "swiftly be named GM." He "clearly has the confidence of the ownership group, the experience and the institutional knowledge to handle the job" (BOSTON.com, 10/12).
