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How does the Waiver priority list work?

Does the team with #1 priority get first pick or is it the Team with the highest # that picks first?

Public Comments

1. Waiver prioritygets 1st chance at a player on waivers. So, if you are the #1 team on the waiver list and you bid on a player as well as team #7, you would get the player because where you ranked.
2. the top priority gets the player. then they fall to the bottom of the list, and everyone else moves up.