Cubs News: Theo Epstein Agrees to 5 Year Contract Extension

Today, the Chicago Cubs announced that they have agreed to terms with Theo Epstein on a 5 year contract extension. As of now, those terms were not yet released but you can safely assume he’ll be making more than his current 5 year $18 million deal that expires this year.

Here’s what Tom Rickett’s had to say in the Cubs’ press release:

“In the five years under Theo’s leadership, he has brought in a strong executive team and acquired and developed some of the best players in the game. Now, the results are on the field. My family and I have no doubt that we have moved closer to our goal of delivering Cubs fans the World Series Championship they deserve,” Ricketts said, adding that the contract “ensures the baseball operations team assembled by Epstein will continue its remarkable tenure of building a consistent championship contender.”

“Both on the baseball and business sides, I believe we have the best leadership in the league and we are well positioned for sustained success,” said Ricketts.

Signing Theo to a contract extension was obviously a no-brainer considering the incredible amount of success he’s had so far in Chicago. He’s built an incredible team, an incredible organization actually with one of the best cultures in all of baseball.

In addition, this extension will include Theo’s management team that he’s assembled, including, but not limited to, Cubs’ General Manager, Jed Hoyer and Senior Vice President of Scouting and Player Development, Jason McLeod.

GM Jed Hoyer will get a new five-year deal with #Cubs while VP Jason McLeod will also be extended through the 2021 season.

— Patrick Mooney (@CSNMooney) September 28, 2016