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reserve clause

noun Sports.
  1. the clause in the contract of a professional player in some sports that binds the player to a team for a season beyond the expiration of the contract in the event a new contract has not been made meanwhile or the player has not been sent to another team.
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Origin of reserve clause

First recorded in 1940–45
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2018