clutch

I have 94 530i with 100,000 on the engine and the same on a replaced clutch. recently i noticed that my clutch pedal is not coming out the full distance. the pedal seems to be "slacking" about a half inch. I was wondering if this was just a master cylinder problem or if something bigger is wrong. Any help is much appreciated.

If it's a hydraulic clutch check the fluid level, and for leaks.

there is no fluid leaks the reservoir has been the same since i bought it.

Well if the level is fine then I guess it is the master cylinder, also you might want to change out the slave cylinder at the same time if applicable.