Nate Schierholtz

Just an update on this.  You seem to have the waiver rule slightly confused with the buy-out rule.

1. Waivers – any player except Franchised players can be put on waivers. If they are not claimed within 48 hours, they then enter the minor league system of the original team. That team is still responsible for that player’s salary. If the player is claimed, then the team with the worst current record (if after June 1) or worst record in the previous season (if before June 1 or in the off-season) will win the rights to that player, assume his contract, etc.

Buyouts
All other players whose contracts have not yet expired can be bought out at the following rates. Please note: you may not buy out a player with more than 4 years remaining on his contract.
You will be responsible for a portion of their salary for the remainder of its term. The player will enter open FA and the original team will not be able to bid on them. Teams will also need to note on their team pages their bought out contract under the heading "Dead Money". Rates are as follows:
4 years remaining on contract - 75% of annual value
3 years remaining - 75%
2 years remaining - 50%
1 year remaining - 50%


Basically, Schierholtz will be on waivers for 48 hours from the time of your posting.  If no teams claims him, he goes to your paid minors at his full salary. If claimed, the other team gets the full salary.

The buyout rule here which would reduce that salary by 50% can only be used in the offseason.  The deadline for that this year was late January. Trust me, if we were still able to reduce a salary 50% at this time, I'd send SP - Cliff Lee - $21,000,000 (2015)(2016x) DL there very quickly!!