Frazier can be claimed by another major league team off waivers.
Frazier made his major league debut in July 2017, but he never has had more than 246 plate appearances in a season.
“I’d love to have the opportunity to talk about this situation publicly and probably plan to do so soon,” Frazier tweeted Oct.
With the moves, the Yankees were able to protect five prospects in next month’s winter meeting draft.