Once a team submits a waiver to claim the player, that waiver cannot be withdrawn. If more than one team submits a waiver, then the worse team (by winning percentage) will acquire the player’s contract.
[3] If, on the other hand, no teams submit a waiver in the 48-hour waiver period, the player’s contract will be terminated and he will be a free agent. In the event that no team submits a waiver claim and the player becomes a free agent, the waiving team will generally be responsible for the player’s salary remaining on his now-terminated contract. This is because of compensation protection.