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 #LAKings have issued the following statement and will not comment any further at this time. https://t.co/DztxlmWdQX
— LA Kings (@LAKings) June 29, 2015
Huh?
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