9:15am: The Red Sox will receive a pitcher from the Cubs' 40-man roster, tweets WEEI's Alex Speier. That'd rule out McNutt. Rafael Dolis, Chris Carpenter, Jeff Beliveau, and Casey Weathers are on the Cubs' 40-man and cracked Baseball America's top 30 prospects for the team. The decision is coming down today, confirms Nick Cafardo of the Boston Globe.
7:36am: A resolution on the Theo Epstein compensation deal is imminent, reports Gordon Edes of ESPNBoston. Edes' MLB source says the Red Sox will receive one quality minor leaguer, a legitimate big-league prospect, from the Cubs. The decision might come today, tweets Ken Rosenthal of FOX Sports.
The Cubs hired Epstein as their president of baseball operations in October. Epstein resigned from Boston's GM position with one year remaining as part of the process, and the teams have not been able on agree which Cubs players the Red Sox will receive as compensation. The commissioner's office has gotten involved, with the teams submitting briefs recently. In January, Epstein explained his stance on WEEI: "There's no precedent for major, major compensation here."
The Cubs are not loaded with top-ranked prospects and young players, but I think it's safe to assume Matt Garza, Starlin Castro, Anthony Rizzo, Brett Jackson, Javier Baez, and probably Matt Szczur will not be involved. Given MLB's involvement, perhaps a player in the Cubs' next tier of prospects could be included, such as Trey McNutt. Check out Kevin Goldstein's Cubs prospect rankings for Baseball Prospectus here.