1:55pm: The team has indeed reached new contracts with all three players, ESPNChicago.com’s Jesse Rogers reports on Twitter.

10:43am: The Cubs have released Shane Victorino, Manny Parra, and Munenori Kawasaki, Mark Gonzales of the Chicago Tribune reports (Twitter links). Chicago has interest in reaching new deals with all three, but obviously wasn’t willing to add them to the active roster or pay the $100K roster bonuses that each would have commanded as an Article XX(B) free agent.

Victorino had already been told he wouldn’t make the active roster, and is reportedly taking an opportunity to rehab his injured calf before moving onto the Triple-A roster. The other two players also seemed like longshots to crack a deep Cubs roster coming into the spring. Parra, 33, has had his moments as a southpaw pen piece, but was looking up at Travis Wood and Clayton Richard in the organization’s pecking order. Things were even tougher for the defensive-minded Kawasaki, who was buried behind multiple infielders.