RealGM

Can the Knicks waive Lance Thomas and then resign him to a vet minimum contract or is there some kind of waiting period before a waived player can be signed by the waiving team?

This happens on a fairly regular basis. The restriction with signing a waived player is after a team traded that player.

By rule, a team is also prohibited from immediately re-signing the player if his salary was stretched or if there was a buyout (reduction of salary guaranteed and paid) as part of the waiver.

Regarding Thomas, this would not apply to him, assuming he was waived in June.

Thanks to you both.