BOSTON (CBS) – Theo Epstein will be joining Terry Francona in adding “former” to his Red Sox title.
ESPN’s Buster Olney is reporting Esptein and the Chicago Cubs have agreed to a five-year deal worth roughly $20-million.
SI’s Jon Heyman is reporting a deal is in place that is worth $15-million, plus a $3.5 million “transfer buyout” that the Cubs will pick up.\
No title has been agreed upon, but Epstein will have more power with his new job in Chicago.
Late Tuesday night, sources told me it was “likely” Theo will be heading to the Cubs as basically a President and GM and sign a five-year deal that could be worth somewhere around the $15-to-20-million mark in total.
The Red Sox will get compensation in return because Theo has one year left on his contract. It would not be a player on the Cubs major league roster, but in the form of prospects and/or cash.
The Red Sox are reportedly leaning towards getting cash for Epstein.
Assistant GM Ben Cherington would likely take over as the next Red Sox general manager.
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With Epstein leaving, it means a team that was nine-games ahead in the AL Wild Card race on September 1st (just six weeks ago) will have parted ways with its GM and manager. A GM and manager that helped its franchise win two World Series in the last eight years after going 86 years without one.