No, if he was claimed on waivers, the other team would take on his contract. If he passes through waivers and is released, the team that signs him would only have to pay pro-rated league minimum for him. I'm not suggesting that, I'm suggesting putting him on waivers, if he's claimed, great, if he's not then we keep him and do whatever with him.
Think Alex Rios when he was claimed by the White Sox... The claimed him not because they wanted him, but because they were worried another team would get him... They worked on a "trade", and JPR said "nah, you just take him and his salary..." and he was gone.