Report: Theo Epstein Signs Five-Year Deal To Become Cubs GM

UPDATE: On Wednesday morning, Boston radio station WEEI reported that Theo Epstein had signed a five-year deal worth $15 million to become general manager of the Cubs. (The link says his exact title has not yet been determined.) The teams are apparently still working out compensation; more details below.

Funny thing.

I was at a screening of "Moneyball" when all the news broke Tuesday evening about Theo Epstein reportedly about to leave the Red Sox for the Cubs. (Excellent movie, incidentally; if you haven't seen it, do it this weekend.)

There are a huge number of tweets from various sources coming out tonight, so I think I'll summarize them this way: Epstein apparently still hasn't decided whether he's leaving for sure, but if he does, he will be named "President of Baseball Operations", with Crane Kenney's title changed to "President of Business Operations". It could be announced in the next 24 to 48 hours, officially. The Cubs will have to give some compensation to the Red Sox, but not any "significant" player or players.

I know all of you have been discussing this in this FanShot and I thank elgato for posting it while I was out. Though it may seem like I'm here 24/7, I do have to get up from the computer from time to time.

I did, as you know, think Billy Beane was going to be the new GM. Obviously, things changed after the Red Sox did not make the playoffs and Terry Francona left as manager by mutual decision. That opened up the possibility that Epstein could also leave, and the Cubs decided to take advantage by asking, and now apparently hiring, him.

Presuming this all goes through, this is excellent news. Epstein has done a terrific job building a winner in Boston. He has his work cut out for him in Chicago, including replacing Mike Quade as manager. Which leads me to one tweet I do want to reproduce here, from one of the Red Sox beat writers:

Now that ought to give you something to talk about. Have at it.