Layden, a sixth-round draft pick from Duke University in 2004, was 4-4 with four saves and a 4.62 ERA in 38 appearances this season, a span of 50.2 innings. However, he had two wins in his last nine outings with the Chiefs, posting a 2.84 ERA in that span.
The left-hander struck out a season-high five batters on June 6 against Lansing. Despite a plus-four ERA overall, Layden has posted a sub-three average in three of his four months with the club. He joined the team in May.
Phelps was the Cubs' 11th round pick from Central Missouri State in this year's draft. He was spectacular in 12 outings, holding opposing hitters to a .197 average for a 1.59 ERA with the Chiefs.
The right-hander struck out 17 while walking just three in 17 innings. During his final college season with the Mules, Phelps was 4-1 with a 1.65 ERA in 15 appearances (five starts) spanning 43.2 innings. He posted the second best ERA for any Mules pitcher in 2005.
The Chiefs did not immediately add anyone to their current roster. No other known transactions involving Daytona were immediately available.