*note – This entry originally contained erroneous information in regards to one and two way contracts. Stick tap to commenter Putney_Swope for setting me straight. Also, this nice fanpost over at PPP.
When a player is sent down to the minors, that player is said to be exposed to waivers, where all 29 other teams would have an opportunity to make a claim on the player. If the player was claimed, the player would permanently join the team who made the claim, and that player’s cap hit would be 100% the responsibility of his new team. This happened to Taylor Chorney in October 2011, when St. Louis made a claim as he was headed to OKC, and it’s happened on many other occasions in the league’s history.
If the player was recalled by the team from the minors, they would again have to pass through waivers. Any team putting a claim on the player would be responsible for only half of his cap hit, and the other half would be assumed by the team who made the callup.
Re-entry waivers are now a thing of the past, as they no longer exist in the new CBA.
Say defenceman Theo Peckham starts in OKC this year, and someone (inevitably) gets injured on the blue line. The Oilers wouldn’t have to worry about exposing him to the waiver wire on a callup. They *would* need to be concerned if/when he is sent down again.
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