Theo Epstein Officially Resigns From Red Sox; Set to Join Cubs

After weeks of speculation, Theo Epstein is officially leaving the Boston Red Sox to join the Chicago Cubs.  Epstein resigned as general manager of the Red Sox and will fill the role of president of baseball operations of the Cubs.  The two teams are still discussing what compensation Boston will receive for Epstein, but Chicago is set to introduce Theo on Tuesday.

Because Epstein had a year remaining on his contract with the Red Sox, Boston is due compensation since Epstein will move on to the Cubs in 2012.  Originally, the Red Sox asking price was sky high, as the club requested starting pitcher Matt Garza or Chicago’s young short stop Starlin Castro.  Through discussions, Chicago hoped to only surrender cash for Epstein’s services, but it now appears the sides will agree on some combination of Minor Leaguers.  It’s been said that Brett Wallace and other top Cubs’ prospects are off limits, but nothing’s official as of yet.

With Epstein’s move now official, he and his successor in Boston, Ben Cherington, can begin compensation discussions.  If the talks drag on, Major League Baseball commissioner Bud Selig has hinted that he may step in.

A third team found its way into the Epstein-to-Cubs madness this week, the San Diego Padres.  Before it was known that Epstein was looking to take on a role larger than general manager for the Cubs, it was reported that Theo was recruiting former top assistant and current Padres GM Jed Hoyer to join him in Chicago.

Many were baffled as to why someone with a general manager’s position would want to take on a lesser role.  These questions were answered when it was announced that Epstein was aiming for president of baseball operations and thus needed a GM.

Hoyer and his assistant Jason McLeod have agreed to join Epstein in Chicago, and the Padres officially gave the Cubs permission to interview the pair.  At this point it seems all but a done deal, and becomes another move which will require the Cubs to send compensation to another club.  In San Diego, former Diamondbacks general manager Josh Byrnes is ready to step up and take over GM duties.

For more on the Cubs and Red Sox, be sure to check out Cubbies Crib and BoSox Injection.