Between the end of the regular season and July 31, a player may be traded without passing through waivers.

Between August 1 and the end of the regular season, a player may not be traded unless he first passes through revocable Major League waivers. In August, clubs submit revocable waiver requests for most players. If a player is not claimed within 47 business-day hours, he may be traded to any club. If a player is claimed by another club, the request may be withdrawn, allowing the player’s current club to pull him back. However, the player’s current club also may 1) work out a trade with the claiming club within 48 ½ business-day hours, or 2) elect to allow the claiming club to take the player and assume responsibility for his current contract.

If more than one club claims a player, the club with the lower winning percentage has priority.

A player acquired after August 31 is not eligible to be placed on the post-season roster with his new club.

The commissioner’s office must approve of any trade involving: 

• a player on the disabled list, or
• a transfer of more than $1 million cash.