Report: Theo Epstein Agrees to Five-Year Deal Worth More Than $15 Million With Cubs

Red Sox general manager Theo Epstein has agreed to a five-year deal worth more than $15 million to join the Chicago Cubs front office, WEEI’s John Dennis reported Wednesday morning. The deal reportedly is expected to be finalized by the end of this week.

The Red Sox had to grant permission for the Cubs to speak with Epstein, according to multiple reports. Because Epstein is still under contract with the Red Sox, the Cubs probably would have to send some form of compensation back to Boston for signing Epstein.

Epstein became Red Sox general manager in 2002. At 28 years old, he was the youngest top executive in baseball history. Under his watch, the Red Sox won their first World Series title in 86 years and another championship three years later.

Francona and the Red Sox parted ways at the end of the 2011 season. Francona, who has been providing play-by-play for FOX postseason baseball telecasts, has been linked to managerial openings with the White Sox (since filled) and the Cubs.