What can a team do once a player has cleared waivers?
A team can do one of three things with a player once he has cleared waivers. They can send him to the minors, for veteran players with the consent of the player, they can release him, making him available to other teams, or they can trade him to another team, regardless of whether or not the trading deadline has passed. In order for a team to trade a player past the July 31st trading deadline, he must have first cleared waivers.
