Cubs nearing long-term extension with Starlin Castro

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7:00 p.m. EDT update: FOXSports.com’s Ken Rosenthal believes a Starlin Castro extension could be announced early next week or sooner. It’d be a six- or seven-year contract with a club option that would buy out an extra year of free agency. As is, Castro will be eligible for FA after 2016.

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David Kaplan of CSNChicago.com has the exclusive:

Two industry sources who have represented several MLB players over the past decade confirmed to me tonight that the Cubs are working on a long term deal for star shortstop Starlin Castro.

The deal, which could be six or more years in length, is expected to be finalized before the end of the 2012 season and would not only buy out the remaining arbitration years that Castro has, but at least two years of free agency which he will reach after the 2016 season.

Castro has battled concentration issues, but the 22-year-old Dominican shortstop is the youngest player in franchise history to top 200 hits in a season (he finished with 207 in 2011) and continues to flash improving power potential. It’s hard to see this as anything but a positive for the rebuilding Northsiders.

Castro is batting .276/.307/.422 with 12 home runs and 58 RBI through 116 games played this season. As it stands currently, he will be eligible for arbitration this winter for the first time in his career.

Report: Orioles to name Brandon Hyde new manager

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Update (8:23 PM ET): MASN’s Roch Kubatko talked to new GM Mike Elias, who said there has been no offer made to Hyde for the position. Elias called the report “premature.”

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The Orioles are expected to name Cubs bench coach Brandon Hyde as the new manager, Joel Sherman of the New York Post reports. Nothing is official yet.

Hyde, 45, spent four seasons in the minors with the White Sox from 1997-2000, then played in the independent Western League in 2001 before calling it quits. He was a coach with the Marlins from 2010-12 and has been with the Cubs since 2013.

Other candidates for the Orioles’ open managerial position have included Pedro Grifol, Chip Hale, Mike Redmond, Mike Bell, and Manny Acta.

Hyde is taking over for Buck Showalter, who was at the helm of the Orioles from 2010-18. Last season, however, the Orioles finished 47-115, the worst record in team history. Hyde will be taking over a team that is rebuilding, so the expectations will be relatively low in his first couple of seasons.