The Kings assigned Richards to the Manchester Monarchs on Tuesday after no NHL team picked him up.
Richards went on waivers Monday after several seasons of declining offensive production. Although he played a key two-way role on the Kings' two Stanley Cup championship teams in the past three years, the formerly prolific goal-scorer has just five goals and 10 assists in 47 games this season.
Richards is making $7 million this season as part of his 12-year, $69 million contract through 2020.
He has played in 224 consecutive games for the Kings dating to December 2011, but the streak will end Wednesday night when Los Angeles hosts Chicago.