UPDATE: Theo, Hoyer to the Cubs is ALMOST a done deal

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UPDATE:  OK, not everything is done. Edes just updated his tweet:

To clarify: Hoyer as Cubs GM, Byrnes as Padres GM is done. Epstein to Chi not yet resolved per compensation. Review of medicals remains

So, yeah, not quite yet the big news we expect.

3:25 PMGordon Edes of ESPN Boston just tweeted that the deal is done: Theo Epstein is President of the Cubs, Jed Hoyer moves from the GM chair in San Diego to Chicago, and Padres vice president Josh Byrnes will replace Hoyer as GM with the Padres.

So, with Hoyer and Epstein coworkers once again like they were back in Boston during the good old days, how long before they truly get the band back together and hire Terry Francona?  And sign Mark Bellhorn for that matter?

OK, maybe not.  But whatever else happens, the Chicago Cubs are about to embark on a bold new era. An executive structure with stellar baseball bona fides. An owner who, according to CSNChicago.com’s report yesterday, seems committed to building the franchise from the farm up and plans to spare no expense to do it.

The Cubs have long been a sleeping giant in the National League. The giant, it stirs.