NBA Waiver explained: What does it mean, and how does it work?

The NBA trade deadline is over as most teams have made the deals they need for the rest of the season. Now, it's time for the buyout of the season in the league. Here's all you need to know about the NBA waiver wire, what it means and how it works.

With all the trades that happened at the deadline, some teams will have more players than roster spots. They can make room by releasing or waiving the player into the waiver wire. Most players who are released or waived are often on the back end of the bench.

Players stay on the waiver wire or on waivers for 48 hours, while other teams are notified about the transaction. Once a player has been released, his salary for the remainder of the season will be paid by his former team.

However, an opposing team can claim players on the waiver wire during the 48-hour window. If the player is claimed, his new team will be responsible for his salary for the rest of the season.

However, what if the player goes unclaimed in the next 48 hours? He will become a free agent and will be able to sign with any team he wants. His former team will still be responsible for his previous contract with them, though.

Most unclaimed players won't be on any postseason rosters. They will have several options, such as the G League or signing with an overseas team. They could also try to return to the NBA in free agency in the offseason.

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What is an NBA buyout?

John Wall playing for the LA Clippers

While NBA waivers are one-sided decisions made by teams to release a player, an NBA buyout is different. A buyout is a mutual decision between a team and a player, who will give up a specific amount from his remaining guaranteed contract.

When a buyout has been agreed upon, the team pays the player the amount they negatiated. The player enters the waiver wire for 48 hours before becoming a free agent and choosing the team he wants to play for next.

Most players who agree on a buyout are ones with larger salaries. From the recent deals at the trade deadline, players such as Russell Westbrook, John Wall and Reggie Jackson are expected to get bought out. Once they agree on a buyout, they're likely to join a contender.