The AP is reporting that the Cubs have declined the options on Cliff Floyd and Steve Trachsel.

"Floyd hit .284 with nine home runs and 45 RBIs in his first season with the Cubs. His option was for $5 million. Trachsel, acquired in a trade with Baltimore on Aug. 31, was 1-3 with an 8.31 ERA in four starts for Chicago. He gets a $100,000 buyout; his option was for $4.75 million."