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Cubs Reach Five-Year, $50M Extension With Club President Theo Epstein

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The Chicago Cubs will finish the 2016 season with baseball’s best record, and much of the Cubs success can be traced back to the great job done by Cubs president Theo Epstein and his staff.

Epstein left the Boston Red Sox in October of 2011 to join the Chicago Cubs on a five-year, $18.5 million contract, and with his contract set to end after this season, he has now earned a significant pay raise today from the Cubs to keep him in the Windy City until 2021:

Cubs chairman Tom Ricketts released the following statement that discusses Epstein’s five-year, $50 million extension:

Chicago Cubs Chairman Tom Ricketts today announced that the team and President of Baseball Operations Theo Epstein have agreed to terms on a five-year contract extension. Terms of the deal were not disclosed.

n 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.

The 42-year-old Epstein has set the Cubs up for long-term success with a core of players that features Kris Bryant, Anthony Rizzo, Addison Russell, Kyle Schwarber, Willson Contreras, Jorge Soler, Javier Baez, Kyle Hendricks, and others.

Epstein will have a challenge this off-season, as he has to re-sign hard throwing closer Aroldis Chapman, whom he acquired from the New York Yankees in a July trade. 2015 National League Cy Young Award Winner Jake Arrieta will be a free agent after the 2017 season, which will also be another challenge for Epstein to conquer.

“It’s everything I could have asked for,” Epstein, said when asked about his contract extension. “There’s no place I’d rather be. I think I said five years ago, it’s a great day to be a Cub, and I still feel that way. I still envision feeling that way for the foreseeable future.”

Chicago also gave contract extensions to general manager Jed Hoyer and vice president of amateur scouting and player development Jason McLeod in addition to Epstein getting extended.

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About Tony Montalto (2000 Articles)
Twitter: @tony_montalto

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