The Phillies have placed Cliff Lee on waivers, Yahoo's Jeff Passan reports (on Twitter). The Phillies were expected to waive Lee this month, when waivers are revocable. Teams routinely place high-profile players on waivers in August to determine other teams' interest. Executives expect the left-hander to clear waivers Friday afternoon, Passan reports.

Teams have two business days to claim players off of waivers, which suggests Lee hit the waiver wire yesterday, when the August waiver period opened. If Lee clears waivers, the Phillies might be able to trade him. Lee can block trades to 21 teams, including the Diamondbacks. The Yankees, Braves and Marlins are not on his no-trade list, however.

The 33-year-old Lee earns $21.5MM this year and $25MM per season from 2013-15. His contract includes a $27.5MM vesting option ($12.5MM buyout) for 2016. If one or more teams claim Lee despite his contract, the Phillies could attempt to work out a trade with the team that wins the claim, assuming Lee doesn’t veto the move.

Here's more detail on how teams can trade players in August.