As news broke last night, Theo Epstein resigned with the Red Sox and will join the Cubs as President of Baseball Operations. No compensation was resolved, but the Red Sox decided that the process was taking too long and didn’t want that to hold up anymore. Meaning, Theo Epstein can work on moves with the Cubs now. However, the Red Sox will still recieve compensation in return. Theo Epstein will work with his old assistant GM Ben Cherington and new Red Sox GM on the compensation package.
A new conference will be held on Tuesday, October 25th in Chicago.
The press release made by the Chicago Cubs:
“CHICAGO – 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.”
The Cubs were officially allowed to interview Jed Hoyer and Jason McLeod. Both are expected to join the front office with Theo Epstein. As it’s been reported that Hoyer will receive a 5 year contract with a pay increase.
According to multiple reports, the Cubs will send 2 or 3 players to the Red Sox, one being more of a top level ‘spect and the other(s) being lower level. Also, the Padres and Cubs have a pre-agreed list of players who could go to the Padres for Jed Hoyer. Those will be of the lower level.
According to the Sun-Times, current VP of Baseball Operations could be on the way to Chicago and that’s Brian O’Halloran. Epstein is also trying to bring over head trainer Mike Reinhold. We have also heard that Epstein could also bring over special assistant Dave Finley. We don’t know exactly who will come over, but we should find out soon.
The front office sounds like it’s come along quite nicely, but Mike Quade still remains. When the front office is finally complete, him and Hoyer will address the managerial position. Right now we don’t know what will happen.
At least the Epstein ‘Saga’, for the most part, is complete. YES! Now we can hear other notes and what direction the Cubs will go. I think the Cubs will try and go all out as they hired good front office personnel.
Only time will tell… DON’T MISS THE PRESS CONFERENCE ON TUESDAY!!!!!