(CBS) The Cubs and Marlins made their reported Carlos Zambrano trade official Thursday afternoon.

Zambrano heads to Miami in exchange for right-handed pitcher Chris Volstad. The Cubs will also play a bulk of Zambrano’s 2012 salary.

In addition, FOXSports.com’s Ken Rosenthal reports Zambrano waived his 2013 option that would have automatically kicked in if he finished in the top four of the Cy Young voting next season. He also resolved his grievance with the Cubs, getting back 24 days salary ($2.4 million) from the time he was suspended by the club in September.

Volstad, 25, is 32-39 with a 4.59 ERA in 103 major league appearances — with 102 starts — with the Marlins the last four years. He has seen his fair share of struggles and was sent down to Triple-A in the middle of last season, but finished strong upon his return to Miami. In his last six starts, he posted a 2.41 ERA while giving up two or less runs in each of those games.