Topic summary
Farm club
Extracted from the Wikipedia article Farm team.
Ice hockey
Unlike baseball, not all the players on the rosters of the minor league teams are owned by an NHL team. The AHL system recognizes two types of contracts: the two-way contract (generally the most common among NHL prospects), in which players can be sent back and forth between the NHL and AHL at will, and the standard contract, which binds the player to the AHL. The NHL teams have negotiating rights to AHL players on their farm clubs' rosters and can upgrade a player to a two-way contract if they so desire. Players can also be sent down to the AHL via the waivers system; if a player is not claimed by any team when placed on waivers, he is by default assigned to his previous team's AHL club.