Terms and length of the potential deal haven't been disclosed, but Sox principal owner John Henry expects a completed deal in the "near future," a welcome bit of news for a baseball franchise that's discovered its World Series stride under the Brookline, Mass., native's direction.

Red Sox manager Terry Francona agreed that reports of a completed deal were premature, but that didn't stop the skipper from talking about the mutual-respect society he and Epstein are firmly ensconced in.

"I certainly can't imagine (Theo) not being here, and it should get done," Francona said. "He's done a great job. I remember seeing some of the statements that he made when he first took over the organization, and I think he's met those goals with flying colors."

Epstein and the Sox had been engaged in private negotiations while in the final year of his current deal, and Henry originally referenced the deal in the past tense during an e-mail exchange with the Boston Globe on Tuesday. Henry later clarified that there are still i's to be dotted before the Epstein pact is finalized, but the new contract is something of a fait accompli.

"I got a little ahead of where we are today in commenting on what have been refreshingly private negotiations," wrote Henry in an e-mail meant to clarify the status of negotiations. "We are not done, but we expect to have an announcement in the near future. I have asked all involved not to comment until this is finalized."

Under Epstein's tenure, the Sox organization has become the "draft and player-development machine" that the young executive aspired to before taking over prior to the 2003 season. Along with a seemingly annual crop of young ballplayers excelling at the major league level, Epstein has earned bottom-line credibility by capturing two World Series titles in the last four years.

RAYS 2, RED SOX 1: Josh Beckett pitched eight innings of one-run ball in another promising September tune-up for the postseason, but reliever Justin Masterson faltered in the bottom of the ninth as Boston gave back sole possession of first place to the Rays. Jacoby Ellsbury collected a pair of hits and scored Boston's only run on a sacrifice fly by Kevin Youkilis in the sixth inning.