Can you explain the difference between “released” and “waived?” And what are the advantages to the team for doing one over another when letting a player go?
Dear Samuel:
For the Giants’ purposes, “released” is a generic term for cutting a player. Players with less than four pension credits are “waived.” Those players are on waivers for 24 hours and may be claimed by any other club. If they go unclaimed during the claiming period their contracts are terminated via waivers. They are then free agents and can sign with any club. Players with four or more pension credits are “terminated.