The Cubs declined Assad's $3.3 million club option for 2027 on Monday, Jordan Bastian of MLB.com reports.
Assad remains in the organization and is arbitration eligible, so the Cubs will simply look to bring him back at a lesser salary. The 29-year-old swingman gave the Cubs solid work again this season, posting a 3.63 ERA, 1.15 WHIP and 63:27 K:BB over 94.1 innings covering 11 starts and 17 relief outings.