Cubs and Theo Epstein closing in on a contract extension
Tom Ricketts and Theo Epstein met with the assembled media prior to Monday’s opener in Anaheim. Among the topics discussed was Epstein’s contract extension. And based on the comments, the Cubs and Theo Epstein are closing in on a contract extension.
Ricketts and Epstein talked near the end of Spring Training. Ricketts did not give any details about the parameters of Epstein’s new contract. Ricketts and Epstein are not working on a deadline and Ricketts did not provide a timetable of when an extension may be finalized. Ricketts expects it to get done at some point “near time here.”
“We talked about it,” Ricketts said. “I think we’ll get to a conclusion here pretty soon.”
According to multiple reports, Theo Epstein will be the highest paid executive in the game once his extension is finalized. Andrew Friedman reportedly signed a five-year $35 million contract to leave Tampa Bay to become the President of Baseball Operations for the Dodgers.
The Sun-Times reported again Monday that Epstein’s extension is expected to be for five years in the $40-50 million range.
Once Epstein’s new contract is completed, extensions for Jed Hoyer and other top staff is expected to follow. Gordon Wittenmyer reported that “consideration for his top staff is part of the talks” with Tom Ricketts.
“Obviously, this is not a one-man operation,” Epstein said. “Everyone’s got different contract status, but our goal is to keep our group in the front office together for a long time.”