8:01 PM ET

PHOENIX -- Four-time All-Star Madison Bumgarner was released by the Arizona Diamondbacks on Wednesday after clearing waivers.

The veteran left-hander was designated for assignment on April 20, giving the team seven days to trade the 2014 World Series MVP or place him on waivers. Bumgarner wasn't claimed and can sign with any team for a prorated share of the $720,000 major league minimum.

The 33-year-old allowed at least five runs in three of his four starts this season and dropped to 1/3 with a 10.26 ERA after his latest outing against the St. Louis Cardinals.

The big left-hander never lived up to expectations in the desert after signing a $85 million, five-year deal in 2020. A postseason hero for San Francisco, he was 15-32 with a 5.23 ERA in 69 starts over four seasons with the Diamondbacks, who were responsible for $34.4 million in remaining salary at the time he was cut.

Bumgarner had been one of baseball's best pitchers during 11 seasons with the Giants, helping them win three World Series titles. He was a workhorse for San Francisco during that time, going over 200 innings seven times in addition to 16 postseason appearances, including a memorable five-inning save in Game 7 of the '14 Series.