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At Hey Bill there is a detailed answer to the question of "Why do a PTBNL?  Why not just name a player?"  The answer is in front of the paywall, so go check it out.  The Exec Sum:

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(1) The teams DO name a player, and send it in to the Commissioner's office.  If there's a later dispute, then the PTBNL will be this player.

(1b) But teams make a good-faith effort to leave the other team happy in PTBNL situations.  Due to "small-town business ethics" that Bill describes neatly.

(2) Often you're giving the other team a player ... later.  But you need to use him for a little while first.  (Not the case with Chris Heston.)

(3) The Giants (let us say) are deciding between 2 players and you don't much care which they take.  But you want to bring in (or send out) the senior player Now.  (The Giants needed Heston off their roster ASAP).

(4) The team getting the PTBNL does not have a spot on the 40-man roster yet, but will have one within a few weeks (again, likely in the Heston-PTBNL trade).

(5) The PTBNL has a health question which looks good, but needs to be resolved.  "I trust you, but let's hold off until he swings the bat a little more in winter league."

(6) It's a pure ejection (of the Chris Heston type) and the receiving team doesn't much care who they get back.  (Presumably they get a list of several players to pick from, who will never be in the majors.)

(7) The PTBNL will be a good player if the Chris Heston guy is throwing the ball well, but "if he's fat and slow and just picking up paychecks" then you get this other guy.  Heston had some velocity issues in 2016.

I don't remember the timing on the Leonydas trade; was Patrick Kivlehan "named" after Martin came to camp and showed that his wrist was fine?

....

Word is the Giants would have had to DFA Heston if they hadn't found a home for him, so maybe the deal is something like "a Kivlehan type if he's looking like 2015 in March, or a nobody if we're going to shed him anyway."

Alternatively, the Giants needed the roster slot pronto and they'll take a week or two to decide from a list of three fairly low-value minor leaguers.

BABVA,

Dr D