Source: Phillies have placed Cliff Lee on waivers. Executives expect him to clear Friday afternoon, be eligible for trade.— Jeff Passan (@JeffPassan) August 2, 2012
This was expected but would you give up a decent prospect if the Phillies picked up $7-$8mil/yr on his contract. He is owed $102.5mil max/$87.5mil min(including buyout) over the next 4 years. If you got $8mil/yr in relief he would cost around $17mil/yr over the next 3 year with a buyout of $4.5mil for 2016.