NBA Terms, Definitions, & FAQs

Waivers

A player released by a team is placed on waivers allowing other teams to claim that player. If a team claims a player on waivers they pick up his entire contract. After 48 hours if a player has not been claimed he is said the have "cleared waivers" and becomes a free agent. In addition, to becoming a free agent the team that waived the player is responsible for paying the remaining guaranteed portion of the terminated contract.