Brad Richards may have retired, but he’ll still be getting paid handsomely – and regularly – as he starts a new phase of his career.
General Fanager reports Richards will earn more than $5 million next season from the New York Rangers following his 2014 buyout and will be paid a total of $14.55 million for the next 10 years. It’s not a bad way to go out.
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After Richards was bought out, his career continued to decline. He scored 37 points in 76 games with the Chicago Blackhawks in 2014-15, winning his second Stanley Cup. Richards bottomed out at 28 points in 68 games with Detroit this past season. The 36-year-old’s best days are behind him and by retiring now, he leaves the game as a somewhat effective player.
The buyout is reminiscent of the New York Mets’ deal with Bobby Bonilla in 2001. The team agreed to defer $5.9 million in payments to Bonilla for a decade, instead opting to pay him nearly $30 million which measured out to $1.19 million every year until 2035. Richards’ deal doesn’t include a salary change nor a deferral, but like Bonilla, Richards will be on a New York team’s payroll long after he retires.
The Rangers opted for a smaller long-term penalty in order to stash Richards’ salary over a prolonged period of time. It wasn’t a bad idea but it’s still going to count on their cap for the foreseeable future.
