Theo Signs Five-Year Deal with Cubs

Theo Epstein and the Chicago Cubs agreed to a five-year deal worth nearly $20 million, according to, although other reports put the contract's value at closer to $15 million. As part of the agreement, the Cubs will pick up the conclusion bonus of Epstein's Red Sox deal.

The Cubs, who parted ways with GM Jim Hendry earlier this season, met with Epstein twice. Cubs owner Tom Ricketts spoke with Epstein last week, and team president Crane Kenney met him in Chicago last weekend.

Because Epstein has one year left on his deal in Boston, the Red Sox will receive prospects and/or cash, but no major league players would be part of the deal, according to

Epstein is believed to be obtaining a higher title with the Cubs that extends beyond the executive vice president/general manager role he had in nine years with the Red Sox.

The Cubs haven't won a World Series since beating the Detroit Tigers in 1908.

As of Oct. 12, field manager Mike Quade remained in limbo as the team worked to finalize Epstein's arrival.

"I really did vanish for a week, and then I've got 80 million texts and phone calls from people to get back to," Quade said during an MLB Network Radio interview. "Everyone assumes I'm in the loop and understand. Look, Tom was going to do this search and if in fact it's Theo, I know it was someone he was probably looking at first and foremost."

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