GLENDALE, AZ – SEPTEMBER 22: Mike Richards #10 of the Los Angeles Kings during the preseason NHL game against the Arizona Coyotes at Gila River Arena on September 22, 2014 in Glendale, Arizona. The Coyotes defeated the Kings 5-4 in an overtime shoot-out. (Photo by Christian Petersen/Getty Images)

LA Kings will pay Mike Richards until 2031

The LA Kings and Mike Richards are parting ways after the two sides agreed to a settlement following a fairly ugly contract termination dispute. However, the details of that settlement will surely only raise more eyebrows from Kings fans. Most noteworthy is the fact the Kings will be paying Richards until 2031.

Counting 2015-16, Richards had five years and $22 million left on his contract. The details regarding the payments haven’t been released at the time of this article.

If you’re wondering about the salary cap, the Kings will have a cap hit as they continue to pay Richards.

That cap hit shouldn’t amount to much each season as the pay out is being stretched across 16 years, but it will add an additional wrinkle in salary cap management.

The Kings also have to pay the cap recapture penalty ($1.32 million per year) over the next five years.

The Kings commented on the agreement:

The Los Angeles Kings have reached an agreement with Mike Richards to resolve the grievance filed in relation to the termination of his NHL Standard Players Contract. The terms are agreeable to all parties. We will not be commenting further on the terms.

Richards will now be an unrestricted free agent. Is he now hockey’s Bobby Bonilla?

 

About David Rogers

Editor for The Comeback and Contributing Editor for Awful Announcing. Lover of hockey, soccer and all things pop culture.

Quantcast