Trade deadline

In North American professional sports, a trade is a sports league transaction primarily involving an exchange of players' contracts between sports clubs. Draft picks and/or cash are other assets that may be used to consummate a trade, either packaged alongside players' contracts to be exchanged to another team, or as standalone assets to be exchanged for players' contracts and/or draft picks in return. In Major League Baseball, a player to be named later can be used to finalize the terms of a trade at a later date, but draft picks are not admissible as trading assets (with one exception). In Major League Soccer, besides current MLS players and draft picks, clubs may also trade MLS rights to non-MLS players, allocation money, allocation rankings, and international player slots. Typically, trades are completed between two clubs, but there are instances where trades are consummated among three or more clubs.

"Trade bait" refers to a player on a team used to entice another team into making a trade with them. Occasionally, it just refers to a player that is traded often or any player that is traded at all. For example, John Wockenfuss was used as trade bait in 1984, when the Detroit Tigers sent him along with Glenn Wilson to the Philadelphia Phillies for Willie Hernández and Dave Bergman.

A no-trade clause is an amendment to a contract, usually relevant in American professional sports, wherein a player may not be traded to another club without the player's consent. Sometimes this clause is implemented by the club itself, but the vast majority are requested by the athlete and his sports agent. In many cases, these no-trade clauses are limited, where a club may be limited to trading the athlete only at certain times, or only to a certain team or geographical area.

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Wikipedia