By Tyler Radecki
November 03, 2011

The Boston Red Sox and Chicago Cubs have agreed to extend the deadline for settling on compensation for Theo Epstein by at least a week, according to SI.com.

“We’re going to have a little more time to work it out,” Red Sox general manager Ben Cherington said on Wednesday.

"We just made a practical decision with everything going on, with Theo in Chicago and us here with managerial searches," he added. "It was mutually agreed upon that we give ourselves at least another week before we turn it over."

Commissioner Bud Selig had a set a Tuesday deadline and said he would step in and settle the negotiations if an agreement hadn’t been reached, according to Sports Illustrated.

"If we don't have something, we'll revisit it and see if it makes sense to extend it further," Cherington said. "Right now it's at least a week of time."

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