Jed Hoyer, Cubs Agree to New 5-Year Contract After Theo Epstein's Exit

The Chicago Cubs announced Monday that president of baseball operations Jed Hoyer has agreed to a five-year contract extension that will run through the 2025 season.

Hoyer, 46, had served as the team's general manager since 2011. He was promoted to president this offseason after Theo Epstein stepped down.

"I'm confident that, even though he's been here, the Cubs are getting the benefit of fresh eyes, so to speak, and that he'll be a force for continued progress and change within the organization," Epstein told reporters last week. "The last couple years, he's really jumped in and enhanced his efforts to be a central part of every discussion in the organization."

Epstein praised Hoyer for being an excellent negotiator, among other quality traits.

"[He] can butter you up with the easy conversation and the small talk and the pleasant demeanor," he said. "But in the end, he knows what he wants and has a way of being able to get it."

The 46-year-old Epstein served as the Cubs' lead decision-maker from 2011 through this past season. The team's World Series championship in 2016 was its first since 1908, ending one of sports' most infamous "curses" and longest title droughts.

However, the Cubs missed the postseason in 2019 and haven't gotten past the Wild Card Round since 2017, as a talented core has underachieved in recent years.

"I think Jed knows that these are going to be interesting and uniquely challenging years," Cubs chairman Tom Ricketts told reporters last week. "There's a lot of variables. But with respect to that situation, I think Jed's on top of it. I think he's extremely well qualified and ready to go. And we'll just work through it together."