Theo Epstein, Cubs Agree on $15 Million Contract
Theo Epstein has agreed with the Chicago Cubs on a five-year deal worth almost $20 Million, according to Sports Illustrated.
Epstein's official position with the Cubs has not been announced. He has made multiple trips to Chicago to meet with team officials, Sports Illustrated reported. Epstein will earn $15 million over five years but an additional “buyout transfer” will make the five-year deal worth $18.5 million.
This ends Epstein's nine season reign as the Red Sox's general manager. He had one year left on his contract with Boston.
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Neither Red Sox executives nor Epstein would comment on the situation last night. However, there were signs the Red Sox were hoping Epstein would have a change of heart. The GM has been linked with a move to the Cubs since August.
One Red Sox official said Epstein's move will not come as a surprise to the team.
"It wouldn't shock me," the team official said, "but until it happens I won't believe it."
Epstein was given permission to interview with Chicago last week. Red Sox owner John Henry knew Epstein was flirting with the Cubs job, and wasn't going to "chase" him. Epstein has had a close relationship with Henry throughout his tenure in Boston.
Ben Cherington, his assistant in Boston, is likely to succeed him as the Red Sox GM.
Epstein became the youngest GM in baseball history when he was hired by the Red Sox at age 28. The Yale graduate crafted the team that won the 2004 World Series, ending Boston's 86 year championship drought. The Red Sox won their seventh World Series title in 2007.
However, the former Red Sox general manager might have inherited a more arduous situation in Chicago. The Cubs haven't won a World Series in 103 years and lost 91 games this past season.
Cub Manager Mike Quade is under contract through next season. Whether he stays as manager will be Epstein's decision. He offered high praise of Epstein today on Sirius XM with Kevin Kennedy.
"It's a huge decision for the organization and they've got their sights set on one of the best in the business," Quade said.
