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Los Angeles Kings Terminate Mike Richards' Contract - No Buyout

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Are the Kings going to be able to avoid a buyout penalty?

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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.

Huh?

terminated

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.

UPDATE, 1:20 PM: The Kings would not simply be letting go of Richards without paying a dime, by the way. From Bob McKenzie: