The Red Sox officially announced last night that GM Theo Epstein had resigned from his position to take over as the the Cubs president of baseball operations. Both teams will hold press conferences on Tuesday; the Cubs to introduce Epstein, and the Sox to likely announce that Ben Cherington is taking over as GM. The two sides have "reached an agreement regarding a process by which appropriate compensation will be determined" and the issue will be "resolved in the near term."
Meanwhile, the Padres have officially granted the Cubs permission to speak to GM Jed Hoyer and assistant GM Jason McLeod. San Diego has already agreed to a list of players from which they will choose their compensation package. Former Diamondbacks GM Josh Byrnes is expected to replace Hoyer after the World Series, and the Cubs will not raid the Padres' front office any further. As news trickles in about the three-way GM carousel, we'll keep track of it all right here, with the latest up top...
- Peter Abraham of the Boston Globe cautions Red Sox fans not to expect a "windfall" in exchange for Epstein. Abraham expects Boston to receive two or three prospects, or one prospect and a complementary Major Leaguer like Jeff Baker.
- Dan Hayes of The North County Times says (on Twitter) we're unlikely the learn the full list of players the Padres can choose from, but a source confirmed that Starlin Castro and Andrew Cashner are not on it. That's not surprising, the Padres are expected to receive minor leaguers in exchange for letting Hoyer and McLeod leave.
- In a pair of tweets, WEEI.com's Alex Speier notes that because he is coming in as an outsider, Epstein is likely to value the Cubs' prospects differently than those already in the organization. That could lead to a swift resolution of the Cubs-Red Sox compensation talks.
- ESPN's Buster Olney points out (on Twitter) that Epstein will cost the Cubs about the same as what Alfonso Soriano makes per month. He calls it a "huge per-dollar talent grab" for the north siders.
- With a handful of front-office types and a manager changing teams this offseason despite being under contract, Nick Cafardo of the Boston Globe wonders whether the Red Sox could seek another team's manager to be their next skipper (Twitter).