In a letter to Wrigley Field season ticket-holders, Cubs chairman Tom Ricketts indicated the team will "likely" reallocate some money from the major league payroll towards scouting and player development. The team's "overall baseball budget" of payroll, scouting and player development will be roughly the same as it was in 2010. Paul Sullivan of the Chicago Tribune was the first to break the news of Ricketts' announcement, while the full text of Ricketts' letter can be found here.
We'd already heard that the Cubs were looking to shed some payroll this winter, though as Sullivan notes, that could be easier said than done given the number of unwieldly contracts on the Chicago roster. It only makes sense for the Cubs to reinvest their savings on the development of young, affordable talent given that they're committed to Alfonso Soriano through 2014 and Carlos Zambrano through at least 2012.