NHLPA, NHL reach settlement between Mike Richards, Kings
The NHLPA filed the grievance back on Aug. 10, contesting Richards’ contract termination by the Los Angeles Kings. The Kings stated the reason behind the termination of his contract was due to “material breach” of its terms. Richards had $22 million and five years left on the deal.
Due to the Kings initially terminating the contract, Los Angeles now faces a salary cap recapture charge for the next five years, reports Bob McKenzie of TSN. The salary cap charge could stay with Los Angeles through 2031, according to Elliotte Friedman of Sportsnet.
Regarding Mike Richards-LAK settlement that's expected to be concluded today: 1. LAK will pay the cap recapture penalty for next 5 years.— Bobby McBoatface (@TSNBobMcKenzie) October 9, 2015
Hearing that Mike Richards will be on the cap until 2031. Not sure of payment, but that is the term.— Elliotte Friedman (@FriedgeHNIC) October 9, 2015
The termination of Richards’s contract came the day before a report surfaced that Richards was detained by Canadian police in mid-June for possessing OxyContin pills while crossing the border between the U.S. and Canada.
After a two-month investigation, Richards was charged with possession of a controlled substance by the Royal Canadian Mounted Police.
Last season, Richards scored five goals and recorded 11 assists in 53 games with the Kings.