Cubs, Theo Epstein agree to five-year contract extension

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Cubs, Theo Epstein agree to five-year contract extension

PITTSBURGH - On the verge of what could become a historic run through October and a period of sustained excellence at Wrigley Field, Theo Epstein has signed a five-year contract extension that will keep him overseeing baseball operations for the Cubs.

While no one expected Epstein to bolt from the best team in baseball and a comfortable family situation on the North Side, the president could have become a free agent and disrupted what's now regarded as a model organization in professional sports.

Epstein initially signed a five-year deal worth $18.5 million in October 2011, seeking a new challenge and a fresh start after building two World Series winners for the Boston Red Sox.

Through a series of shrewd trades, first-round picks and free-agent megadeals, Epstein has turned around a 101-loss team in 2012 and constructed a World Series favorite that has already won 101 games and a National League Central title this year.

Epstein and chairman Tom Ricketts are expected to speak with the media before Wednesday night's game against the Pittsburgh Pirates at PNC Park.

“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," Ricketts said in a statement. "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.

"(This) ensures the baseball operations team assembled by Epstein will continue its remarkable tenure of building a consistent championship contender.”

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