Cubs sign team president Theo Epstein to five-year extension

The architect of the Chicago Cubs’ resurgence is going to stick around to enjoy the fruits of his labor. Team president Theo Epstein has agreed to a five-year deal to remain in the organization, the team announced Wednesday.

 #Cubs Chairman Tom Ricketts announces the team and President of Baseball Operations Theo Epstein have agreed to a five-year extension. pic.twitter.com/fksXbyl4K5

— Chicago Cubs (@Cubs) September 28, 2016

Epstein joined the organization in 2011, and was tasked with turning around one of the worst franchises in the game. The rebuild may have taken a few seasons, but through shrewd trades and excellent drafts, Epstein has built the Cubs into baseball’s premier franchise. With Epstein’s initial contract set to expire following the 2016 season, it was no surprise the club wanted to keep him around.

Given Epstein’s track record, his price was not cheap.

The #Cubs have signed Theo Epstein to 5-year extension that’s expected to be worth in excess of $50 million.

— Bob Nightengale (@BNightengale) September 28, 2016

Of course, Epstein isn’t the only person in the organization responsible for the team’s recent success. General manger Jed Hoyer and senior vice president Jason McLeod have also played a huge role in turning the Cubs around. Both Hoyer and McLeod also have extensions that will keep them in Chicago for the foreseeable future, according to our own Jeff Passan.

Not only does Theo Epstein have a new five-year deal with the Cubs, but GM Jed Hoyer and personnel ace Jason McLeod have extensions as well.

— Jeff Passan (@JeffPassan) September 28, 2016

While the team has publicly confirmed Epstein’s extension, it has not announced extensions for Hoyer and McLeod at this time.

Keeping those three together long-term should be viewed as a significant accomplishment. When a team experiences as much success as the Cubs have in recent years, that usually provides opportunities for key members of the front office to leave for more lucrative opportunities. That’s not going to be the case here.

With the moves, the Cubs ensure the best front office in baseball will stay together for the foreseeable future. While it’s a development fans on the North Side ought to celebrate, fans of the other 29 teams should be downright terrified.