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Tom Ricketts: Cubs Will Talk Extension With Theo Epstein 'Pretty Soon'

(CBS) Whenever the Cubs' rejuvenating season season comes to a close, be it in the NL wild-card game on Oct. 7 or deep into the postseason, owner Tom Ricketts has a priority on his to-do list.

Making sure president of baseball operations Theo Epstein stays in Chicago for the long term.

Epstein's contract runs through the end of the 2016 season, and extension talk is a hot topic after he's spearheaded the effort to rebuild the Cubs from what Ricketts called the "dark days" to the current version that's 90-65 with a playoff spot locked up and a talented young core.

Ricketts has every intention to keep Epstein locked up.

"We haven't had a conversation about that, but we'll certainly get to that pretty soon here and make sure we do the right thing for everybody," Ricketts said in an interview on the Mully and Hanley Show on 670 The Score on Monday morning.

The Ricketts family took over the Cubs in late 2009. Until Epstein arrived to turn it around in October 2011, hope was hard to come by at times, Ricketts recalled.

"In 2010 at one point, in that August before Lou (Piniella) left, we were the oldest lineup in baseball, the third-worst record, the third-highest payroll and had like the 25th-best farm system," Ricketts said. "I mean, those were dark days. That was kind of tough. We knew we had a lot of work to do."

For his part, Epstein has stated on multiple occasions that he's not worried about his contract at this time.

"I am committed to the Cubs and could not be happier," Epstein told CBSChicago.com in August. "I am very happy working with the this group of people. Tom and I see this as a long-term partnership with a lot left to accomplish."

If contracts for other experienced, successful baseball operations presidents in big markets are any indication, Epstein could command in the range of $8 million to $10 million annually on his next contract.

Epstein also addressed his contract situation Sunday in an interview with Barry Rozner on 670 The Score.

"I ended up staying 10 years in Boston," Epstein said. "It was nine as GM, but 10 years there. That seemed about right, long enough to try to make a difference and try to contribute to winning teams and some championships. We have a lot of work left to do here.

"The only time I think about my contract is when I'm asked about it by the media.

"I'd like to be here to see the Cubs win multiple World Series and make up for lost time, but that starts by winning a playoff game, which we haven't done in a long time."

Listen to Ricketts' full interview with Mully and Hanley below.

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