By Anthony Caruso III | Publisher
This new extension will reportedly be worth more than $50 million. The Cubs were intending on letting Epstein walk at the end of his previous five-year deal that expired at the end of the season.
However, the two sides worked out this new deal. Financial terms were not disclosed.
Yet, the USA Today is reporting that it is worth more than $50 million. It is a huge increase from the original five-year, $18.5 million deal he signed with the team in October 25, 2011.
“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,” chairman Tom Ricketts said. “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.”
With Epstein leading the baseball operations, the Cubs have won at least 97 games for two straight seasons. This was the first-time that happened in more than 100 years.
This postseason, they are considered one of the favorites to win the World Series. The Cubs have 101 wins so far this season.
There are five games remaining. Chicago became just the third team in MLB history to win at least 100 games within four years following a 100-loss season.
They were 61-101 in 2012. Epstein made many of the acquisitions with the team. He helped draft Kris Bryant, Kyle Schwarber, and Albert Almora Jr.
The team also signed international free agent Jorge Soler. He also helped in the trade acquisitions of Anthony Rizzo, Jake Arrieta, Addison Russell, Dexter Fowler, Kyle Hendricks and more.
Before coming to the Cubs, he was the Boston Red Sox’s General Manager from 2003-2011. He helped guide the team to two World Series Championships.
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