Mike Richards has been placed on waivers, via the reports below. It is expected that this would begin the process of buying out the 30-year-old’s contract.
In 257 regular season games with Los Angeles between 2011-15, Richards totaled 46 goals and 133 points. In 61 playoff games between 2012-14, he totaled 10 goals and 37 points and captured two Stanley Cups.
Should the Kings complete the process and buy out the remaining years of Richards’ contract, they would be dinged with cap hits through the 2024-25 season (courtesy of General Fanager):
Unconditional waivers: MARK FISTRIC ANA PIERRE PARENTEAU MTL MICHAEL RICHARDS L.A
— Renaud Lavoie (@renlavoietva) June 28, 2015
La places Richards, Ana places Fistric, and Mtl places Parenteau on unconditional Waivers for buy out. Clune cleared will be bought out.
— Darren Dreger (@DarrenDreger) June 28, 2015
A few of you have asked if PHI is liable for cap recapture under Richards buyout. Answer is no, because he was traded prior to lockout.
— Elliotte Friedman (@FriedgeHNIC) June 28, 2015