Chicago Cubs chairman Tom Ricketts says the team's performance convinced him extending president of baseball operations Jed Hoyer's contract was the right thing to do.

The Chicago Cubs have locked up their top baseball operations executive. The Cubs and team president of baseball operations Jed Hoyer have agreed to a multi-year contract, the team announced Monday. Hoyer's contract was set to expire after this season.

With the trade deadline looming, the Chicago Cubs have extended president of baseball operations Jed Hoyer amid one of the team's best seasons.