OK, so, you know how Mike Richards was placed on waivers for purposes of buying out his contract?
That ain't happening. At least, not yet.
The key phrase, of course, is material breach.
Well, it FEELS like a last-ditch effort by the Los Angeles Kings to avoid paying Mike Richards $14.67 million for the next ten years. (As a reminder, we covered the details of a buyout yesterday.) There's obviously a lot we don't know, though, and whether there's a legitimate reason for Dean Lombardi and the Kings taking this step remains to be seen. (As in, a material breach that is material.)
I have a feeling we'll be following this all summer. Stay tuned.
UPDATE, 1:00 PM: Here's the statement from the NHL Players' Association.
NHLPA statement on the Mike Richards situation. pic.twitter.com/Vloka4UMg5— James Mirtle (@mirtle) June 29, 2015
UPDATE, 1:20 PM: The Kings would not simply be letting go of Richards without paying a dime, by the way. From Bob McKenzie:
After termination of Mike Richards' contract, LAK face cap recapture penalty of $1.32M per year for each of the next five years.— Bob McKenzie (@TSNBobMcKenzie) June 29, 2015