In the end, the Cubs got Epstein, their president of baseball operations, and Bogaerts, while the Red Sox received right-hander Chris Carpenter right-hander Aaron Kurcz.
Bogaerts, 19, is the twin brother of Red Sox minor-league shortstop Xander Bogaerts. The two are natives of Aruba. Xander Bogaerts is ranked the second-best prospect in the Red Sox system by Baseball America. Jair Bogaerts was not ranked by the publication. In two minor-league seasons, Bogarts has hit .227/.320/.321 in 372 plate appearances over two seasons in the Dominican Summer League. Last season he hit .288/.387/.404 with two homers. He caught in 2010, but not in 2011.
The announcement comes the same day Carpenter is slated to have elbow surgery to replace a bone spur.
Cubs general manager Jed Hoyer told the Chicago Tribune the team didn't know about Carpenter's elbow injury.
"We just found out about that," he told the newspaper. "It's obviously something you never want to happen. In any trade, you want both sides to feel good. That's not a great thing to have happen, (either) for Chris or the Red Sox.
"It's something we just learned about and are looking into it. I wouldn't read anything into that."
While this does close the book on the compensation saga for Epstein, Chicago still owes San Diego a player as compensation for signing Hoyer.