Outright waivers is irrevocable, so any team that puts a claim in on Lind would obtain him and Toronto would be off the hook for his salary.
Lind's contract pays him $5 million this year and next and includes three club options that guarantee him another $3.5 million.
If Lind is not claimed, Toronto can remove him off its 40-man roster.
Farrell said that Lind was expected to play his first game for Las Vegas on Sunday, and because of the confidentiality of the waiver process, Lind would not know if the Blue Jays in fact did place him on outright waivers.
Lind's fall from grace has been well-documented. After winning a Silver Slugger award for a 2009, when he hit .305 with 35 homers, 114 RBIs and a .932 OPS, Lind's career has trended downward.
The first baseman's on-base percentage and OPS fell to paltry levels the past two seasons and hit a low point over April and the beginning of May this year. Before being optioned, Lind had a batting line of .186/.273/.314/.587 with three homers and 11 RBIs over 118 at-bats.
Despite the uncertainty that surrounds his future with the Blue Jays, Farrell was still speaking as if Lind will remain a part of the organization and identified what has been plaguing him.
"There was a plan taken to the plate, and yet I think that plan swung to the side of being overly selective that took away that edge," Farrell said. "That assertiveness or that aggressiveness when he was in hitter's counts -- then it was a matter of looking for a fastball in a certain area and making an impact.
"I think, as this season started to unfold, there were some thoughts that were in there when he was at the plate. Whether it was looking for certain pitches or trying to see a number of pitches. As we mentioned before, that pendulum swung too far in one direction."
Toronto's skipper would like to see Lind get back to what made him a productive big leaguer and a big part of the middle of the order. That will be what dictates his possible return to Toronto.
"A consistent approach at the plate, a controlled aggressiveness," Farrell said about what he wants to see. "Or a defined aggressiveness that allows him to hit with a free mind. ... It's getting him back to that bat that has the ability to impact the baseball and impact the game with one swing. That doesn't mean we are looking at a certain number of home runs gets him back to the big leagues. Just from an approach standpoint, I think we will see improved bat speed, because of maybe the freeness and more clarity to just going and attacking the ball inside the strike zone.
"He hasn't lost his abilities, it's in there. We have to get back to unlocking that and letting it play out more consistently."