Theo Epstein's new position with the Chicago Cubs will pay him $15 million over five years, according to a report from Sports Illustrated's Jon Heyman. The deal will reportedly also include a $3.5 million "transfer buyout."
The Red Sox will be compensated for allowing Epstein to leave, but the compensation has reportedly not yet been decided. There is a discussion whether the Red Sox will receive cash or minor leaguers, but Boston reportedly prefers the money.
Epstein was the youngest general manager in Major League Baseball when he originally took the Red Sox job on Nov. 25, 2002. After helping the Red Sox win the 2004 World Series title in 2004, Esptein briefly resigned from the Red Sox, only to return a few months later as GM and Executive Vice President, orchestrating another World Series title in 2007.