The Cubs have picked up the one-year, $16 million option on Aramis Ramirez's contract, but the third baseman will turn down the option and declare for free agency. "We are very sorry that this era is coming to the end for Aramis and the Cubs," agent Paul Kinzer said. "He loves Chicago and the fans. They've been great to him, but at this point it's better that we check out the market and address free agency. "(The percentage of Ramirez returning to the Cubs is) probably not good. At this point, Aramis is looking for a multiyear deal and looking forward to being a free agent for the first time in his career. It's too difficult for me to say whether the Cubs would be interested in giving him a long-term contract." Chicago had two choices, either pick up the option or pay Ramirez a $2 million buyout in 2012. By offering the contract, the Cubs will be able to offer arbitration, which in turn brings them a second-round draft pick in the June 2012 draft if Ramirez signs elsewhere.