Heath Bell put on Waivers
As reported by Ken Rosenthal, the Padres have placed closer Heath Bell on waivers.
If Bell is claimed the Padres can either trade him to the team that claimed him, keep Bell or just give Bell to the claiming team. (The first being the most likely to happen.)
If Bell passes through waivers unclaimed, (unlikely to happen as at least one team will claim him to block another team) then the Padres would be able to trade him to any team of their choosing.
If a team does claim Bell expect the Padres can then trade him and get something of value in return or pull him back and retain him through the season.