[News] Kings terminate Richards contract. UPD: Kings and Richards reach settlement

[Poe969]

I'm pretty sure Mike Richards puts the toilet paper roll on the wrong way too. Contract Terminated.

[Erick Estrada]

This could take a while to get sorted out but in the mean time are the Kings going to be allowed to be players in free agency with this new found cap room? If they sign a player to a big deal on Wednesday and then find out in a month that they couldn't weasel out of their predicament with Richards then what happens? So tired of the Kings, Devils, Rangers, Flyers of the world getting off the hook for their bad decisions.

[codynw]

I heard Mike Richards wears sunglasses inside.

[sureLoss]

Bob McKenzie @TSNBobMcKenzie
Note: Even tho LAK terminated Richards' contract, they are still responsible for a cap recapture amount, per CBA.

good

[JohnnySkittles]

Originally Posted by sureLoss

Bob McKenzie @TSNBobMcKenzie
Note: Even tho LAK terminated Richards' contract, they are still responsible for a cap recapture amount, per CBA.

good

So they're still going to have a Richards cap hit going forward??

[Muffins]

Originally Posted by codynw

I heard Mike Richards wears sunglasses inside.

Even worse, they're white Oakleys.

He truly is a monster!

[codynw]

Originally Posted by JohnnySkittles

So they're still going to have a Richards cap hit going forward??

Not all of it. Just enough to make up for benefiting from a huge front loaded contract.

I'm sure someone that knows how it works will post the cap hits.

[socalwingfan]

If the Yankees and their legal team couldn't find a way to terminate A-Rod's contract, unless Richards committed a felony, I can't see then being able to terminate a contract

[Locke]

Originally Posted by sureLoss

Bob McKenzie @TSNBobMcKenzie
Note: Even tho LAK terminated Richards' contract, they are still responsible for a cap recapture amount, per CBA.

good

Good.

It would make more sense if it carried the same cap penalty as a buyout, the only difference would be that no actual dollars go from LAK to Richards, which, if he breached the contract, is reasonable.

[codynw]

I heard that Mike Richards doesn't use his signal lights when changing lanes.

[Resolute 14]

Originally Posted by Ashasx

If the Kings lose on this attempt, I hope they are penalized draft picks.

If they lose on this attempt, then yeah, it should be viewed as blatant cap circumvention. However, if the NHL let New Jersey off the hook, don't bet on them going after LA.

[sureLoss]

looking it up I believe

recapture cap hit for Richards would be 5 years of $1.32 mil

compared to his buyout that would have been
$1,216,666
$1,716,666
$2,716,666
$4,216,666
$4,216,666
$1,466,666
$1,466,666
$1,466,666
$1,466,666
$1,466,666

still a huge benefit for the Kings

[codynw]

Pfff, those recapture penalties are pretty much nothing.

Garbage. No way this should be allowed.

[Weitz]

Wow talk about acting like a bunch of children in this thread.

How about waiting to see what exactly happened before going all crazy?

[Resolute 14]

Originally Posted by Slava

So they terminate the contract (which will obviously result in a prolonged fight) and in the meantime they get to use the cap space as they see fit? That seems completely ridiculous.

That part seems fair, but assuming this goes to arbitration and an arbitrator sides with Richards and the union, the Kings would have a major problem on their hands, as they would have to immediately become compliant with the cap.

[mikephoen]

Originally Posted by sureLoss

looking it up I believe

recapture cap hit for Richards would be 5 years of $1.32 mil

compared to his buyout that would have been
$1,216,666
$1,716,666
$2,716,666
$4,216,666
$4,216,666
$1,466,666
$1,466,666
$1,466,666
$1,466,666
$1,466,666

still a huge benefit for the Kings

Well, at least it's something. Still seems like a free pass for the Kings.

[Ashasx]

Originally Posted by Resolute 14

If they lose on this attempt, then yeah, it should be viewed as blatant cap circumvention. However, if the NHL let New Jersey off the hook, don't bet on them going after LA.

The rules only apply to some teams I guess.

[Erick Estrada]

Originally Posted by socalwingfan

If the Yankees and their legal team couldn't find a way to terminate A-Rod's contract, unless Richards committed a felony, I can't see then being able to terminate a contract

Yeah I was going to say when is the last time you heard of this happening in MLB or NBA where they have guaranteed deals?

[GreenLantern2814]

Originally Posted by Erick Estrada

Yeah I was going to say when is the last time you heard of this happening in MLB or NBA where they have guaranteed deals?

The Angels looked into voiding Josh Hamilton's deal this off-season. The Yankees desperately tried to get out from the 80+ million they owed A-Rod. I can't think of a situation where it worked.

[GranteedEV]

Originally Posted by mikephoen

Well, at least it's something. Still seems like a free pass for the Kings.

It's not a big recapture penalty because it wasn't an especially front loaded contract. The worst year was when he was making 8.4m vs a cap hit of 5,750, and the worst "retirement" year he would be making 3m vs that cap hit. That's different from, say, Kiprusoff's contract where he was a cap hit of just under 6m but a salary of 1.5m in the "retirement" years. It also helps that his salary next year will exceed his cap hit.