<Li> rescind the request and keep the player on its major league roster, effectively canceling the waiver; or </Li> <Li> do nothing and allow the claiming team to assume the player's existing contract, pay the waiving team a waiver fee, and place the player on its active major league roster . </Li> <P> If a player is claimed and the waiving team exercises its rescission option, the waiving team may not use the option again for that player in that season--a subsequent waiver would be irrevocable with a claiming team getting the player essentially for nothing . If no team claims a player off waivers after three business days, the player has cleared waivers and may be assigned to a minor league team, traded (to any team), or released outright . </P> <P> The waiver "wire" is a secret within the personnel of the Major League Baseball clubs; no official announcement of a waiver is made until a transaction actually occurs, although information sometimes leaks out . Players are often waived during the post-July "waiver - required" trading period for teams to gauge trade interest in a particular player . Usually, when the player is claimed, the waiving team will rescind the waiver to avoid losing the player unless a trade can be worked out with the claiming team . </P>

How long is a player on waivers in mlb