An announcement is expected to be made "within the next 24 to 48 hours," according to the Herald, which cited two unnamed sources.
The announcement is being delayed by two issues. One is that Red Sox ownership is still trying to keep Epstein. The other is that Boston will want significant compensation from Cubs to let him change teams.
Epstein was 28 when he joined the Red Sox in 2002, becoming the youngest general manager in baseball history. He helped put together teams that won the World Series in 2004 and 2007 and made the playoffs in six of his nine seasons. But the 2011 Red Sox blew a nine-game lead in September in the race for a wild-card spot.
Terry Francona, who had been the Red Sox manager since 2004, left the team two days after the season ended.
Report: Epstein Close to Deal with Cubs
Northsiders Report Top Stories
Cubs Feb. 14 NotebookTravis Wood signs a two-year deal with Kansas City and relief pitcher David Rollins has finally cleared waivers.
Northsiders ReportTuesday at 10:54 AM
The New CubsOutfielder Jon Jay and closer Wade Davis headline a group of newcomers on the 40-man roster headed to their first Cubs camp.
Northsiders ReportMonday at 9:27 AM
Cubs Feb. 12 NotebookCubs agree to terms with Pedro Strop and more newcomers invited to Cubs camp.