The Chicago Cubs and Theo Epstein have agreed to a five-year contract extension.

Epstein's initial contract with the club was set to expire after the season.

Terms of the new deal weren't released.

"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. 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," team chairman Tom Ricketts said.