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

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.

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.

Darvish not done and not guaranteed  —  Wednesday morning.  The sun has come up but Yu Darvish and the Rangers have not reached an agreement yet.  —  At this moment, they still have 81/2 hours to get it done.  —  The word this morning is the Rangers optimism has waned a bit.

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.

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 …

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.

Sean Forman to appear on Clubhouse Confidential, MLB Network  —  I'll be appearing on Clubhouse Confidential on the MLB Network.  We are taping this afternoon and I'm pretty sure it will be broadcast tonight.  The show typically airs 5:30pm and 7:30pm ET and then probably 8 more times after that.

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 …

Astros Sign Jack Cust  —  WEDNESDAY, 11:17am: The Astros announced the deal, which is worth $600K.  They still need to clear a 40-man roster spot for Cust.  —  TUESDAY, 9:30pm: The Astros have agreed to sign Jack Cust, Ken Rosenthal of FOX Sports tweets.  It's a one-year deal with a club option …

Angels agree to terms with SS Erick Abyar on 2012 deal  —  The Angels avoided arbitration with Erick Aybar on Wednesday, agreeing to terms with the shortstop on a $5.075-million deal for 2012, and they will continue their attempts to secure the slick-fielding switch-hitter to a long-term deal.

Brewers, K-Rod settle for $8 million  —  The Brewers and reliever Francisco Rodriguez agreed to a one-year, $8 million contract just ahead of Tuesday's deadline for arbitration-eligible players and their teams to exchange figures.  —  Rodriguez was the team's trickiest case because he was a free agent …