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If a team picks up a player that was placed on waivers, the player will become a member of the team's system. The team that the player left may have waived him to try to free up some salary cap room or send him down to a minor league team. Once the player goes on waivers, any team may claim him within 48 hours. The team losing the player does not receive compensation. A player can only be waived before being sent to the minor leagues if he has played three seasons after his first NHL contract or 180 NHL games. Should multiple teams claim the player, the team that finished with fewer points during the previous season will get the player. The player will go to the minor league team if he is not claimed by any team.

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When a player is placed on waivers in hockey, other teams have the opportunity to claim that player and assume his contract. If a team claims the player while he is on waivers, they have "picked up" that player on waivers.

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10mo ago
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Q: What does picked up on waivers mean in hockey?
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