The Red Sox issued a statement tonight, together with the Chicago Cubs, announcing Theo Epstein’s departure:
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.
No mention has been made of compensation from the Cubs except to say that it is still being worked out. Â Reports are that Ben Cherington and Theo Epstein will work something out and if they’re unable to come to an agreement Commissioner Bud Selig will step in an arbitrate.
In deference to the World Series, official press conferences won’t be held until Tuesday and neither team will comment on the situation until then. Â On Tuesday, the Cubs will announce that Epstein is their new President of Baseball Operations and the Red Sox are expected to announce Cherington as their new General Manager.
Epstein’s leaving is the end of an era that brought the team their first World Series championship in 86 years in 2004 as well as another championship in 2007. Â Cherington has been with the team in various capacities since 1997 and most recently served as the Assistant General Manager so the transition from Epstein to Cherington should be, relatively, seamless.
(Originally published on Examiner.com)