Buyouts can begin on June 15, so expect to see players put on waivers as early as noon on June 14 to begin the process.
There are two windows where teams can buy out players every off season. The second is dependant on how many arbitration filings a team has and when they are settled, but the first window is the one we are concerned with today.
The first buyout window opens on June 15th and closes on June 30th, just before the free agency frenzy begins.
Process
If a team wants to buy out a player, they must first place that player on unconditional waivers, and he can be claimed by any team in the usual way.