1:33pm: The Cubs announced that Sveum will be their next manager. The sides agreed to a three-year deal that includes an option for 2015, according to Paul Sullivan of the Chicago Tribune (on Twitter).

12:12pm: The Cubs will hire Brewers hitting coach Dale Sveum to be their next manager, according to Joel Sherman of the New York Post (on Twitter). Gordon Wittenmyer of the Chicago Sun Times hears that the Cubs may announce their next manager as soon as tomorrow (Twitter link) and suggests it will be Sveum. The Cubs offered the managerial job to Sveum yesterday.

Cubs president of baseball operations Theo Epstein would not confirm that the team offered Sveum the position, according to MLB.com's Carrie Muskat. However, Epstein said the process is in its final inning. “We’ve got to get the 27th out,” he said.