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February 21, 2012 at 1:53 PM

Theo compensation announced: Sox receive righty Chris Carpenter, will exchange PTBNLs with Cubs

The long-awaited announcement of the Red Sox' "significant compensation" for allowing General Manager Theo Epstein to become President of Baseball Operations for the Chicago Cubs was announced on Tuesday, exactly four months after Epstein's departure was officially made public. The Sox will receive right-hander Chris Carpenter from the Cubs, and in addition the clubs will swap players to be named later. Although the two clubs had submitted proposals to Commissioner Bud Selig, Red Sox General Manager Ben Cherington told reporters that the clubs worked out a deal without the aid of the commissioner's office.

Carpenter, not to be confused with the Cardinals Cy Young winner and Exeter, N.H. native of the same name, made his major league debut last season, throwing 9.2 innings of relief over 10 outings, allowing 3 runs on 12 hits and 7 walks, striking out 8. After spending the first three seasons of his career as a starter, Carpenter moved into the bullpen at age 25 last year. The Bryan, Ohio native was the Cubs' third-round draft choice in the 2008 draft out of Kent State, climbing quickly to Double-A in his first full season.

Carpenter battles significant command and control issues, evidenced by his 23 walks in 30.1 Triple-A innings last season. He has a live arm, however, working in the high-90s and touching 100 mph as a reliever. He also throws a mid-80s slider as well as a changeup. All scouting outlets agree that harnessing his control will make the difference between him becoming a solid late-inning reliever or not. Carpenter will compete for a spot in the Boston bullpen during spring training, but could be optioned to Triple-A Pawtucket to continue working on his command.

As for the players to be named later that will be exchanged by the clubs, Cherington told reporters that he and Epstein have agreed on the level of players that will be exchanged, and that he expects the trade to be completed by the end of spring training. To make room for Carpenter on the 40-man roster, Boston placed right-hander Bobby Jenks on the 60-day disabled list as he continues recovering from a number of off-season health issues.