Chris Carpenter for Theo? That's a good deal.

The Cubs have finally announced the compensation deal for stealing Theo Epstein today.  Cubs minor league fireballer, Chris Carpenter, will be heading to the Red Sox along with a player to be named later.  The Cubs are to receive a player to be named later as well.

A lot of people really like Carpenter.  He wowed many of us last year by hitting triple digits on a number of occasions in his few appearances with the Cubs last season.

For a while, the Cubs tried to use Carpenter as a starting pitcher, but moved him back to the bullpen last year.  He's a great talent that may pan out to be a big league closer some day if he is able to find some control on that fastball.

In the end, the Cubs had to give up a minor league relief pitcher to get Theo.  That's a damn good deal.  No starting pitcher or position player and no top of the line prospect...there should be no reason to complain about that.

Some thoughts on the Theo compensation

We should expect Bud Selig (or Bid Selif if you are theChicago Tribune) to rule on the compensation package that the Cubs will have to surrender for ‘stealing’ Theo Epstein from the Red Sox.

Currently the thought is that the Cubs will have to give up a top prospect with Trey McNutt or Josh Vitters as possible targets.

The truth is I’m not sure if anyone really does know how Selig will rule on this.  In fact, there are a number of facts that on both sides of this issue that could be used to support a substantial compensation and to support very little compensation.

Why the Cubs will pay substantial compensation:

1. Recently, precedent with the Ozzie Guillen compensation between the White Sox and Marlins was relatively substantial…two higher prospects.
2. Bud Selig will likely want to try to make a statement that top executives under contract can’t just hope from one organization to another.
3. Theo Epstein’s overall stature in the baseball community.  He’s regarded as one of the top baseball executives.
4.  Red Sox owner John Henry and Bud Selig are good buddies and Selig has done a number of favors for Henry topped off by letting him sell the Marlins to another owner (orphaning the Expos) and letting him purchase the Red Sox even as other bidders offered more money.

Why the Cubs will not pay substantial compensation:

1. In 1994 the Cubs only had to give up 2 low level prospects to take Andy McPhail away from the Twins.  MacPhail was the Twins GM and he was promoted to team President when he joined the Cubs…similar to the situation with Theo. 
2. Theo was promoted in the process of going to the Cubs.  For the most part, teams in baseball (and most other sports) will not require significant compensation when a guy leaves to take a job with a higher title.
3. Theo was going to leave after the 2012 season and might have even resigned his position before the 2012 season since much of the rest of the Red Sox organization was in a time of transition.
4. There isn’t a large problem with team executives bolting from one organization to another.  There is no reason to do anything drastic here to try to prevent a problem from growing. 
5.  It’s not good business practice for baseball to try to prevent an executive from taking a job with more responsibility or getting a promotion. 
6. While Guillen did get the White Sox a good haul, the job with the Marlins wasn’t a promotion for Guillen.  He has the same job now as he did with the White Sox. 

My gut feeling on the matter is that the Cubs will likely give up Trey McNutt in the deal.  The Red Sox have made it known they want pitching and initially wanted Matt Garza as compensation.  McNutt is the best pitching prospect in the Cubs system right now and I expect Selig will favor the Red Sox a bit more in this deal just because of his previous dealings with John Henry. 

Expect a ruling on this before the end of the week.  

And things just keep getting worse...Adrian Gonzalez traded to the Red Sox

In the end, the player I wanted most to play first base was Adrian Gonzalez.

The problem had always been that he wasn't a free agent.

We also know the Cubs presently weren't willing to take on his salary in a trade, and weren't willing to give up the prospects the Padres would have wanted.

Still, many of us were hoping that Gonzalez might be in a Cubs uniform for the 2012.

That doesn't appear as if it is going to happen now.

The Red Sox and the Padres have agreed on a trade involving the 1st baseman and the Red Sox intend to start contract extension talks with him in very short order.

With Adam Dunn officially out of the picture (though I'm holding off hope that the White Sox will trade him to us before opening day), the long term projections at first base are looking rather grim.

People keep mentioning Prince Fielder who I believe to be a tremendous risk especially at the price that Fielder's agent Scott Boras will likely ask for, and who's defense at first base has been worse than Adam Dunn's. I just see the Cubs being stuck in a Alfonso Soriano situation if they get Fielder.

And there is always the pipe dream of getting Albert Pujols.

But with the Cubs seemingly stuck because of their current payroll commitments, we appear to be left with a very serious problem of being unable to restock the roster with good veteran players.

All I can say is "Poop!".