What is the restricted list?

Answer 1

The restricted list is a lot like the disabled list, but the conditions under which a player can be put on the restricted list are a lot different. For example, one doesn't have to be be injured to go on the restricted list, but one can be. The restricted list is a list of players to whom certain teams have contractual obligations, but are currently not a part of the team and may not play in an MLB game.

Answer 2

In Baseball, it is those players who have officially retired (thus, are no longer fully paid by the club that they signed with) but are unable to sign with another team. This prevents a player from "retiring" and then signing a large contract with another team or even another league.

Players usually sign contracts that require the club to pay a salary even after retirement. The only way to break this part of the contract is for the team to give that player an "unconditional release." Only after the latter is given can a player sign with other teams.

Some teams would rather pay that small retirement salary than risk that player signing with another team. And, on the other hand, some teams just release a player who has been little more than a problem for that team, figuring it's not worth paying a salary just to keep another team from getting that player. For example, the Arizona Diamondbacks released Russ Ortiz -- who they were paying $8 million a year -- after he lost fourteen of fifteen decisions.