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Report: Cliff Lee Placed On Waivers, Expected to Clear and Be Eligible for Trade

Cliff Lee wasn't moved before Tuesday's 4 p.m. ET trade deadline, but the Phillies left-hander may still be on the move.

Yahoo! Sports' Jeff Passan reports that the Phillies have placed Lee on waivers, and he's expected to clear waivers by Friday. That would open the door for the Phils to be able to deal Lee.

However, it's far from a formality that Lee would be shipped out of Philadelphia. First of all, they would have to find a trade partner once the southpaw passes through and work out a trade. Or, the Phillies could also pull Lee back and keep him on the roster.

The Phillies might be wise to move Lee if they can find the right deal. The club has a ton of money invested in just a few players for next season, especially after they just signed Cole Hamels to a pricey extension. Lee is still owed $87.5 million, and there's a chance that deal could be worth as much as $102.5 million if Lee's club option is picked up for the 2016 season.

Passan speculates that the Phillies would likely have to eat $7-8 million per season in order to acquire anything substantial in terms of prospects in a potential trade for Lee.

Lee is just 2-6 this season with a 3.73 ERA in 125 1/3 innings pitched.