.http://blogs.denverpost.com/broncos/2011/08/29/nfl-rules-explained-waived-vs-released/9181/
NFL rules explained: Waived vs. Released
By Lindsay Jones
The Denver Post
Lindsay Jones
With the Broncos (and 31 other teams) now in the process of trimming their training camp rosters down to the 53-man limit for the regular season, you’ll be hearing the terms “waived” and “released” in coming days.
Both words are synonyms of “cut” but have different meanings.
Players that have less than four years of experience are “waived” — meaning a player has to clear the NFL waiver wire before becoming a free agent. When a player is placed on waivers, the other 31 teams have a day to place a claim on him. The team with the highest spot in the waiver order is then awarded that player. If no team makes a claim, that player is then a free agent and can sign with any team.
Through the first couple weeks of the season, the Broncos have the No. 2 spot in the waiver wire, behind only Carolina, meaning the Broncos have a decent chance of picking up whichever players they want off waivers. Look for the Broncos to be actively scouring the waiver wire this weekend to try to add depth to the offensive and defensive lines, among other positions.
Players with more than four years experience are considered vested veterans, so at least through midseason, they are not subject to the waiver process. As soon as his release paperwork clears, he is free to sign with another team.
Agamemnon