What does designated for assignment mean given the Lorenzo Cain news?

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MLB Rumors: Latest Buzz on Matt Harvey, Emerson Hancock, More, News, Scores, Highlights, Stats, and Rumors

Brewers designate Lorenzo Cain for assignment Milwaukee brewers, Chicago cubs, Lorenzo cain

What does designated for assignment mean given the Lorenzo Cain news?

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What does designated for assignment mean given the Lorenzo Cain news?