Report: Red Sox, Cubs Close to Finalizing Theo Epstein Deal, Jed Hoyer Expected to Become Cubs GM

The Red Sox and Cubs may finally be close to putting an end to the Theo Epstein saga, and there are reports that an end could come as soon as Friday.

ESPN.com reports that the two sides are close to a deal for Epstein to join the Cubs, and a source told ESPN Chicago's Bruce Levine that the teams are on "the 5-yard line."

However, it's starting to sound like Epstein won't be assuming the same role in Chicago as he had in Boston. In fact, it's believed that Padres general manager Jed Hoyer will eventually join Epstein in Chicago, and Hoyer will become the Cubs' new GM. Epstein is set to become the president of baseball operations.

According to the ESPN.com report, this move has been signed off on by the Padres, who are planning to elevate Josh Byrnes to GM. It will be Byrnes' second GM job after he left a job in the Boston front office in 2005 to become the Arizona GM.

There was plenty of haggling over compensation for Epstein, who has one year left on his contract in Boston. The Sox reportedly asked for young shortstop Starlin Castro and pitcher Matt Garza at various points in negotiations, but the Cubs balked at that. Boston also reportedly floated John Lackey's contract around as part of negotiations as well, but it's believed that the Sox will receive minor leaguers and no cash for compensation.

There isn't as much optimism that a deal is close in Boston, however. Multiple reports have indicated that the sides aren't as close to a deal as the ESPN report states. 

If a deal does get done by Friday, Major League Baseball has reportedly given the Cubs permission to make the announcement as Friday is an off day for the World Series. That's according to the ESPN.com report.

For what it's worth, The Boston Globe reported Thursday afternoon that Epstein had spent the day working in his office at Fenway Park.