What we know: A few minor details

We’re likely a long way towards any final resolution here, but this is what we know:

-Mike Richards’ contract has been terminated “for a material breach of the requirements of his Standard Player’s Contract.”

Relevant section of the CBA, re: Richards — pic.twitter.com/zsNM0jNo1c

— Elliotte Friedman (@FriedgeHNIC) June 29, 2015

-As many on Twitter have noted, there’s going to be more to come here. The NHLPA will almost certainly become involved.

It is likely player, his reps/NHLPA will dispute NHL/LAK interpretation tho low likelihood of anticipated grievance resolution before July 1

— Bob McKenzie (@TSNBobMcKenzie) June 29, 2015

-Not that this is the primary, front-and-center aspect of today’s news, but the Kings will have additional cap space, as the developments currently stand. For those asking, with the termination of Richards’ contract, Los Angeles now has $60.73-million allotted to 17 players for the 2015-16 season. Next year’s salary cap has been set at $71.4M; teams may have up to 23 players on their active roster.

-UPDATE, 1:35 p.m.: The Kings will still face cap recapture penalties, as explained in the next story.

-I’ll continue to provide periodic updates throughout the day; thank you in advance for bearing with any delays or gaps in this coverage as reports emerge.

It is likely player, his reps/NHLPA will dispute NHL/LAK interpretation tho low likelihood of anticipated grievance resolution before July 1

— Bob McKenzie (@TSNBobMcKenzie) June 29, 2015

On LA terminating Mike Richards' contract for "material breach," there are myriad reasons why details can't be made public at this time.

— Bob McKenzie (@TSNBobMcKenzie) June 29, 2015

@FriedgeHNIC Also relevant text: Mike Richards can only challenge via arbitration + Bettman would be the arbitrator. pic.twitter.com/q8Vefd7kpY

— Michael McCann (@McCannSportsLaw) June 29, 2015