Richards figures reported; effect on Kings cap revealed

In the wake of the settlement between the Los Angeles Kings and Mike Richards, it was already clear that the Kings would be dinged a cap recapture penalty of $1.32 million through the 2019-20 season plus an extended annual rate based off the negotiated settlement. On Thursday evening, Elliotte Friedman reported that the total payout to Richards will be $10.5 million (of the $22 million that had been remaining on the contract at the time of its termination), and the payout would be spread annually and unevenly through the 2031-32 season, not 2030-31.

Via Friedman, the Kings’ cap hit per season will be as follows:

2015-16: $3.12 million
2016-17: $1.57 million
2017-18: $1.57 million
2018-19: $1.57 million
2019-20: $1.57 million
2020-21: $700,000
2021-22: $900,000
2022-23: $900,000
2023-24: $700,000
2024-25: $700,000
2025-26: $600,000
2026-27: $600,000
2027-28: $600,000
2028-29: $600,000
2029-30: $500,000
2030-31: $500,000
2031-32: $400,000

With Richards’ numbers now accounted for, Los Angeles now has a $69.34M total cap hit and roughly $2.06M of cap space, based on financials provided by General Fanager.

For 2016-17, the Kings have allotted roughly $49.03M to 14 players, based on financial information available at War-on-Ice. Anze Kopitar, Milan Lucic, Trevor Lewis, Christian Ehrhoff, Jhonas Enroth, Jeff Schultz, Jamie McBain and Peter Budaj are eligible to become unrestricted free agents on July 1, while Brayden McNabb and Jordan Weal are bound for restricted free agency.