Report: Epstein Deal Expected Friday

BOSTON (CBS) – The Boston Red Sox and Chicago Cubs are finalizing a deal that would make Theo Epstein the Cubs' president of baseball operations, according to a report by ESPN.

A MLB source said "the two sides are on the five-yard line," and an announcement is expected on Friday.

The deal is expected to be completed at some point Thursday according to the source. Due to the World Series, the official announcement will not be made until Friday, with the Cubs already getting permission from MLB to hold the press conference on the fall classic's off day.

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The Red Sox will receive compensation in the form of minor leaguers, although the source is saying it will not be Chicago's top prospects Brett Jackson, Trey McNutt or Matt Szczur.

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Epstein is expected to name current San Diego Padres general manager Jed Hoyer the Cub's GM a few days after he takes over, but ESPNBoston's Gordon Edes  was told late Wednesday night the Cubs had not asked for official permission to interview Hoyer.