Red Sox, Cubs hope to settle Theo Epstein compensation next week

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The Red Sox and Cubs were granted an extension last week to work out the lingering issue of compensation over Theo Epstein. However, since both sides are pretty busy interviewing managerial candidates and expressing interest to free agents, little progress has been made in recent days.

Red Sox general manager Ben Cherington hopes to change that real soon. He told Evan Drellich of MLB.com yesterday that he and Epstein are optimistic they can work out an agreement in person at the general manager meetings next week in Milwaukee.

“Theo and I have spoken a couple of times since I talked to you guys last,” Cherington said Wednesday at Fenway Park, a week after his last huddle with the media. “We traded some ideas and don’t have anything to report yet, but there’s at least been a couple more conversations.”

“The Commissioner’s Office is giving us some leeway on it if we feel like there’s progress being made,” Cherington said. “I think we’ll give ourselves until next week. We’ll see each other in person next week, at least give ourselves until then to see if there’s something we can’t figure out.”

This sounds like a broken record already, but if the two sides can’t reach an agreement by the end of next week, commissioner Bud Selig would likely step in as an arbitrator. I fully expect to do one post on this topic each week until the end of time.

Cubs sign Drew Smyly to a two-year, $10 million contract

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The Cubs announced on Tuesday evening that the club signed pitcher Drew Smyly to a two-year contract. Ken Rosenthal of The Athletic reports the contract is for $10 million total and allows Smyly to earn another $7 million with performance bonuses. Smyly was non-tendered by the Mariners at the beginning of the month and became a free agent.

Smyly, 28, underwent season-ending Tommy John surgery in late June. He’s expected to miss, at minimum, the first half of the 2018 season. The Cubs are hoping he can contribute to a playoff push in the latter half of the season as well as in 2019.

Smyly didn’t pitch at all in 2017. When he was healthy the season prior, he made 30 starts for the Rays and put up a 4.88 ERA and a 167/49 K/BB ratio in 175 1/3 innings.