Cubs, Red Sox want Bud Selig to set compensation for Theo Epstein  —  Theo Epstein, with manager Dale Sveum, has been unable to settle compensation with former Red Sox colleague Ben Cherington.  The Red Sox have held the upper hand in negotiations.  Scott Stewart~Sun-Times

Gerardo Concepcion free to deal  —  Cuban left-handed pitcher Gerardo Concepcion has been declared a free agent and is free to negotiate with any major league team, his agent said Wednesday.  —  The agent, Jaime Torres, said Concepcion established residency in Mexico as of Tuesday and is presently training in the Dominican Republic.

Darvish will sign, likely six year deal  —  Starting pitcher Yu Darvish will sign with the Texas Rangers before the 5 p.m. ET deadline, sources have told CBSSports.com insider Jon Heyman.  The deal is likely to be for six years and it seems likely to be for more than $52 million, Heyman has also learned.

Tim Lincecum seeking record $21.5 million; Giants, Pablo Sandoval agree on 3-year deal  —  The Giants and Tim Lincecum might have grabbed baseball industry headlines Tuesday when they exchanged record-setting figures in arbitration, but the club made its most declarative investment of the day in All-Star third baseman Pablo Sandoval.

Agent expects ‘elite’ contract for Hamels  —  One contract watch is over for Cole Hamels and another is just beginning.  —  Hamels and the Phillies avoided an arbitration hearing when they agreed to a one-year, $15 million contract on Tuesday (see blog).  —  The Phillies already had control of Hamels' rights for 2012.

The Dodgers, Clayton Kershaw, Tim Tebow and Jesus Christ  —  There is no mistaking the precocious maturity of Dodgers left-hander Clayton Kershaw.  Whether in his calm focus on the mound or in the clubhouse, he is beyond his 23 years.  He appears remarkably centered and at peace with himself …

Tigers' Victor Martinez likely out for season with torn ACL  —  Tiger Victor Martinez / JULIAN H. GONZALEZ / DFP  —  The Detroit Tigers today announced that designated hitter Victor Martinez tore the ACL in his left knee during off-season conditioning last week and likely will miss the 2012 season.

MVP Braun to accept award, then give speech  —  Brewers outfielder Ryan Braun, who faces a 50-game suspension for testing positive for a performance-enhancing drug, is expected to speak at a banquet where he will accept his award for being voted National League MVP.

Profar No. 2 on list of top SS prospects  —  MLB.com's Top 50 Prospects list has been expanded to 100.  The 2012 version will be unveiled on Wednesday, Jan. 25, on MLB.com as well as on a one-hour show on MLB Network, airing at 10 p.m. ET.  Leading up to that, MLB.com will take a look at baseball's top 10 prospects at each position.

Derek Jeter embodies MLK's dream  —  Biracial Yankees captain a symbol of the America Martin Luther King once envisioned … When the average person thinks of Derek Jeter, he or she is likely to think of the 3,000 hits, or the five World Series rings, or the highlight reel full of great plays …

NY judge blocks immediate appeal by Madoff trustee  —  NEW YORK (AP)—A trustee trying to recover money for investors in Bernard Madoff's Ponzi scheme was blocked Tuesday from immediately appealing a ruling limiting how much the New York Mets' owners might have to give up to other investors.

2012 Kansas City Royals Top 10 Prospects  —  Baseball America's Top 10 Prospects lists are based on projections of a player's long-term worth after discussions with scouting and player-development personnel.  All players who haven't exceeded the major league rookie standards of 130 at-bats …