The Chicago Cubs have become one of the premier franchises in Major League Baseball, and the leading architect of that success is getting a fresh contract extension as a reward.
That executive is Cubs President of Baseball Operations Theo Epstein, who has reportedly agreed to a five-year contract extension with the organization, the team announced Wednesday.
According to Bob Nightengale of USA Today, the new extension will pay Epstein more than $50 million over the life of the contract, more than double what his previous pact was worth.
According to Jeff Passan of Yahoo Sports, the Cubs also agreed to contract extensions with General Manager Jed Hoyer and Minor League Director Jason McLeod.
Epstein, who was hired by the Cubs after the 2011 season, had a contract that was expiring at the end of this season, but team owner Tom Ricketts insisted that a deal would get done at a proper time. Now, with the Cubs safely in the playoffs and looked at as a prohibitive favorite to win a World Series title, Epstein will get the new contract extension that has been talked about for so long.
After three years of missing the postseason under Epstein, the Cubs have made the playoffs in consecutive seasons, reaching the NLCS in 2015 and winning a Major League-high 101 games en route to their first division title since the 2008 season.
Hoyer joined the Cubs as G.M. when Epstein was hired in 2011, and has been instrumental in some of the biggest moves the organization has made. Under his guidance, the team acquired Anthony Rizzo, Jake Arrieta, and Addison Russell via trades, and also made significant free agent signings like Jon Lester, Ben Zobrist, and Jason Heyward.
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Under the supervision of McLeod, the Cubs' minor league system has churned out talent as well. Top draft picks like Kris Bryant and Kyle Schwarber have already made a big impact at the big league level, and players like Carl Edwards Jr., Willson Contreras, and Javier Baez have blossomed into solid additions to the Cubs' roster.
