If Lind was outrighted, he would have been removed from the 40-man roster after a 48-hour period, but a second source told Chisholm that the 28-year-old was still on the club's official list.
If Lind is claimed, the claiming team will assume the balance of the four-year, $18MM extension he signed early in the 2010 season. That deal also includes club options for 2014-16, with corresponding buyouts. If he goes unclaimed, he will remain with Toronto but will be removed from the 40-man roster.
Lind signed his extension on the heels of a breakout 2009 in which he posted a .305/.370/.562 line with 35 homers. The 1B/OF/DH has fallen well short of that since then, however, hitting .238/.289/.420 with 52 homers in 1,287 plate appearances from 2010 till his demotion to Triple-A this week.
Outright waivers are irrevocable, meaning the Jays wouldn't be able to pull Lind back if another team were to claim him. However, an AL executive tells Jon Heyman of CBSSports.com that there's "no chance he gets claimed" (Twitter link).