What does it mean when a player is traded for a player to be named?

Question

Does it mean that the team is basically giving the player away?

Answer 1

Yes basically that's what it is in a nutshell. The team getting rid of the player for the player to be named  is doing just that, getting rid of them to save money, etc. The bone they receive in return will have little if any meat on it and is just a throw-in. No one in professional baseball wants to be the "player to be named later" guy. That means you are not worth a whole lot!

Answer 2

Free Transfer.

Or

Released.

Answer 3

It means that the player to be named is still being discussed between the teams. The trade has already happened, but the player being traded away is still in question.