The Ravens have just released WR/KR Keenan Reynolds and you want to know how the Ravens can keep him on the team. You also know that by 4 PM ET tomorrow there will be an estimated 700 NFL players losing their jobs. How do the Ravens and all other clubs receive new talent?
The waiver process is the obvious one. Any player with less than four years experience is subject to waivers. Keenan Reynolds will be used as the example here.
Keenan has been waived by Baltimore. The rights to Reynolds is no longer with the Ravens, but the waivers system. At that point all NFL teams have a chance to put a claim on Reynolds. As of right now, the priority on the waiver wire is the same as the NFL Draft. The Titans are number one, the Ravens are six, and down at the bottom is the Denver Broncos.
Unlike your fantasy football waiver wire, waiver priority does not change after your first claim. If Tennessee puts a claim on five players, they receive five players.
If Keenan is claimed by another club (ex. Vikings) the clock hits 24 hours and counts down. If that 24 hr. clock concludes and no other team higher on priority put a claim on Reynolds he then becomes a Viking.
If no team puts a claim on Keenan Reynolds the Ravens can keep him by putting him on the practice squad. He also becomes capable of playing for any NFL team, a free agent.
Waiver priority will change after week three of the NFL season. When it changes it goes based off 2016 team records.
Also, waivers does not start until Sunday at 12:00 PM ET. Practice squads get started at 1:00 PM ET.