External Transactions

Designation for Assignment

Players being cut are designated for assignment. Designation immediately removes the player from the Majors and subjects him to a 2-3 day waiver process. Waivers run for at least two days but are processed during the middle of the night following expiration of the 48-hour period. Such players are available to trade during that period. If they are not traded during that period, they are given to the highest waiver claimant. If the player is not claimed on waivers, the player is cut. Designation is not revocable. Refunds are not awarded for players unclaimed on waivers.

Mid-Season Free Agents

Any unsigned player can be acquired mid-season. Players who are acquired mid-year are MS-contract players, paid the league minimum, except for the first three free agents per team acquired by midnight before the first MLB game following the LDB auction. Such free agents may be designated K1s at the league minimum. Teams may redesignate one or more of its NG players (described below) as K1s at the league minimum before the start of the season in lieu of acquiring an equal number of free agents as K1s.

Players drafted in the Snake Draft with non-guaranteed contracts may be freely swapped for a replacement player who is of the same type (i.e. position player or pitcher) until the end of April. Replacement players cannot subsequently be swapped for other replacement players. Players dropped with NG status do not confer NG contract status when signed by a new team; such player has MS contract status. Players with NG contracts cannot be kept at the conclusion of the season.

Waiver Claims

All dropped players will be placed on waivers for 48 hours. Any team may put in a claim for a player on waivers, and the player will be awarded to the team that is highest in the waiver order at the time the claim is processed. Starting in Week 2 during the season, at the start of each week the waiver order will be reset to the inverse of the LDB standings by record. If a team claims a player, they will temporarily drop to the bottom of the waiver order until the order resets. Tiebreakers on waiver claims for teams with identical records will be determined by whatever method CBS utilizes. At the start of the offseason, the waiver order will mirror the AA Draft order. Teams will still drop to the bottom of the waiver order after a claim, but the order will not reset until the start of Week 2 of the regular season. Awarding a player results in the acquisition of that player, pending roster space being made available for the new player. The claiming team assumes the remaining salary burden of the player, calculated by remaining weeks in the LDB regular season.

Teams may not claim players that they themselves dropped. Teams must wait until a player clears waivers to pick up such players.

Trades

Trades may occur at any point in the off-season and during the season, up to the league trade deadline, which will be the end of week 15. All trades must have timestamp of 11:59 PM EST on Sunday of week 15 or earlier, or have been announced to the league in a reasonable manner before that deadline.

Trades will be subject to approval by a vote of the other managers in the league. If greater than one-half of the non-involved managers veto a trade, the trade will be cancelled. The veto window is three days. All trades will be immediate. A veto of a trade will be prospective; if vetoed, the players traded will have their stats count for their teams that temporarily held them.

Trades may involve players, cash, and other assets, such as, but not limited to, future draft picks, RFA rights, etc. Trades can include a "player to be named later" as long as that player has not accumulated any LDB stats between the trade and the player changing hands. As a general policy, trades are looked upon favorably, regardless of the types of assets involved. The full terms of a trade need not be fully disclosed to the league and may involve gentlemen agreements and other conditions. However, trades are subject to the following restrictions:

• No trade may involve an agreement to temporarily hold or "rent" a player. Any trade that attempts to work around the ban on renting players is also prohibited. For example, a trade involving an agreement to later send back a player of similar value could be considered a workaround. Whether a trade constitutes a rental or an attempted workaround will be determined by a Rules Committee vote, if one is called for.
• Transfer of a player's RFA rights is prohibited once that player is nominated in the Majors Draft or selected in the Snake Draft.

In any trade made after the Majors Draft, it is assumed that teams trading away a player eat the salary of such players. However, in any trade made in the offseason or mid-auction, it is assumed that teams receiving players pay the full salary of such players.

Bets Involving LDB Assets ("Friendly Wagers")

"Friendly wagers" are the only class of transactions that can include yet-unrealized future assets (money, AA picks past the 2-year allocation window, yet-unborn naming rights to sons/daughters, etc). Friendly wagers cannot adversely impact the competitiveness of the league (if there is question about whether a wager will do so, the wager's status will be determined by that year's Rules Board). All assets involved in friendly wagers will be held in escrow, a spreadsheet that will spell out the parties, terms, timeline, and payouts of the friendly wager. Friendly wagers are bound to the team, rather than the owner, such that a owner's departure does not invalidate the wager (unless specified in the terms of the wager). In the event a team's owner leaves, new prospective owners should be made aware of the team's wagered obligations before agreeing to take control of a team, as the assets are held in escrow and will only be released pursuant to the terms of the wager.