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Red Sox and Cubs Figure Out Compensation for Theo Epstein

Jonathan Daniel/Get​ty Images(NEW YORK) -- In October, when the Chicago Cubs hired Theo Epstein away from the Boston Red Sox to become their new president of baseball operations, the two sides had yet to figure out the compensation that Boston would receive. On Tuesday, the two sides agreed that the Cubs will send relief pitcher Chris Carpenter to the Red Sox. The two teams will also exchange a player to be named later.

The 26-year-old Carpenter made 42 relief appearances in Double-A and Triple-A last season. In 10 relief appearances at the major league level last season, Carpenter had a 2.79 ERA in 9.2 innings pitched. He's not to be confused with the St. Louis Cardinals pitcher of the same name.

"I am relived that this process is over and particularly pleased that the teams were able to reach agreement on their own without intervention from MLB," Epstein said in a statement. "I truly hope and believe that this resolution will benefit both clubs, as well as Chris, who is an extremely talented reliever joining a great organization at a time when there's some opportunity in a major league bullpen."

During Epstein's tenure as general manager, the Red Sox won two World Series titles in 2004 and 2007.

Copyright 2012, ABC News Radio

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