Found August 02, 2012 on Buzz On Broad:
Philadelphia-phillies-lee


Yahoo! Sports has announced today that Phillies pitcher Cliff Lee was placed on August waivers. August waivers in the MLB can be confusing, I am going to try my best to explain it.   Teams usually place several players on waivers come August.  Opposing teams are allowed to claim a player, but the team has the option of pulling him back and either make a trade with the claiming team, or just let them have him. If Lee does clear waivers, that will make him eligible for a trade. Cliff Lee's situation is very different.  While Lee is a top-notch ace, he is still owed approximately $95 million.  It is HIGHLY unlikely that a team would claim that type of contract.  Again, if a team does claim him, the Phillies have the option to take him back and try to develop a trade, if not the claiming team eats the contract. Hope that helped.  The trade deadline in MLB is something I will never understand, no matter how many times you explain it to me.  More to come...
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