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The team issued the following statement and said it would not comment any further at this time:
Richards, 30, had five years and $22 million remaining on a 12-year contract scheduled to pay him $6 million next season, according to war-on-ice.com.
He scored a career-low five goals and 16 points in 53 games this season as his goals total declined for the fifth consecutive season. The Kings went so far as to place him on waivers in January, but he went unclaimed and ended up playing 16 games with the Kings’ AHL affiliate.
The Kings placed him on unconditional waivers on Sunday, appearing to move toward buying out his hefty remaining contract, the Los Angeles Times reported, adding that the salary-cap hit would be on the Kings’ books through the 2024-25 season.
According to TSN’s Bob McKenzie, “There are myriad reasons why details can’t be made public at this time. Suffice (it) to say it’s extremely complicated and many lawyers are going to be very busy sorting this one out.”
Sportsnet’s Chris Johnston reported that a buyout vs. a contract termination “will likely be subject to a grievance.”
The Kings have been in the news for the wrong reasons lately after failing to make the playoffs one year removed from winning the Stanley Cup, between Jarret Stoll’s arrest for cocaine possession (the felony charges were later dropped) and Slava Voynov’s charges of domestic abuse.
