Skip to content

Curtains on Broadway: Rangers buy out Richards

Jun 20, 2014, 12:47 PM EDT

Brad Richards Getty Images

After much speculation, the rumors have proven true — New York has used a compliance buyout on Brad Richards, per ESPN’s Pierre LeBrun.

Per CapGeek, Richards — who holds a no-movement clause — opted against being placed on waivers, allowing the Rangers to immediately move forward with the buyout process. Capgeek also reports it’s the fourth-largest buyout in NHL history.

Richards just wrapped the third of a massive nine-year, $60 million deal signed in 2011. This move will free New York from his annual $6.6 million cap hit, but the club will pay Richards $1.05 million annually until 2025-26.

The Rangers will also avoid potential cap recapture penalties for Richards’ back-diving contract. The deal paid $57 million in salary in the first six years, and just $1 million over the final three seasons — so, should Richards have retired prior to fulfilling the duration of the contract, the Rangers would’ve been hit with gigantic penalties:

The decision to use the compliance buyout comes after Richards, 34, enjoyed something of a bounce-back campaign this year. He racked up 51 points in 82 games — third on the Rangers in scoring — and 11 points through his first 20 playoff games, averaging close to 17 minutes a night.

While he struggled in the Stanley Cup Final (no goals, one assist, minus-4 rating and a fourth-line demotion midway through the series), agent Pat Morris recently expressed optimism that Richards would be retained by the Rangers, thanks to conversations he had with GM Glen Sather.

“Gut feeling, it wouldn’t surprise me if he’s kept,” Morris told Sportsnet’s Fan 590 last Tuesday. “Glen was pretty positive about Brad’s role this season, especially after [former Rangers captain Ryan] Callahan left.”

Today may be a difficult day for Richards, but he should be comforted by the following two facts:

Update: Per Sportsnet, Richards cannot sign with a new team until July 1.

Latest Posts
  1. Sharks say Scott adds ‘element of security’

    Sep 21, 2014, 11:05 PM EDT

    John Scott AP

    Head coach Todd McLellan thinks he can play, at least.

  2. Canes’ LaRose explains hiatus: ‘I fell out of love with the sport’

    Sep 21, 2014, 10:10 PM EDT

    Florida Panthers v Carolina Hurricanes Getty Images

    “But sometimes you have to lose what you have to realize what you had.”

  3. Injuries piling up as preseason schedule begins

    Sep 21, 2014, 9:40 PM EDT

    New York Rangers v Philadelphia Flyers - Game Four Getty Images

    Players nursing bumps and bruises as camps wrap.

  4. Wild’s Yeo is already getting excited about Vanek

    Sep 21, 2014, 7:31 PM EDT

    Wild Vanek Hockey AP

    “He’s thinking usually two or three plays ahead.”

  5. It sure seems like Byfuglien would rather play on Jets’ D

    Sep 21, 2014, 6:09 PM EDT

    Winnipeg Jets v San Jose Sharks Getty Images

    “God, defense was just so much fun though.”

  6. Report: Coyotes assess first-rounder Perlini’s broken hand

    Sep 21, 2014, 4:49 PM EDT

    Arizona Coyotes Rookie Camp Getty Images

    The team’s still trying to determine if surgery is necessary.

  7. Sens play it safe with Ryan after he collides with Turris

    Sep 21, 2014, 3:48 PM EDT

    Brandon Sutter, Bobby Ryan AP

    He won’t play in either of Ottawa’s Monday exhibitions games.

  8. Flyers’ Laughton likely headed to Lehigh Valley

    Sep 21, 2014, 3:02 PM EDT

    ScottLaughton Getty Images

    Seasoning in the AHL should serve the 20-year-old well.

  9. Schenn moves to center in Philadelphia

    Sep 21, 2014, 11:30 AM EDT

    Brayden Schenn Getty Images

    With Giroux out, Craig Berube juggles lines.

  10. Hemsky adjusting to life in Dallas

    Sep 21, 2014, 10:31 AM EDT

    Toronto Maple Leafs v Ottawa Senators Getty Images

    Not at Oilers camp for the first time in his career.

  11. Jenner at center begins Sunday

    Sep 21, 2014, 9:30 AM EDT

    Boone Jenner #38 of the Columbus Blue Jackets skates against the New York Islanders at the Nassau Veterans Memorial Coliseum on October 5, 2013 in Uniondale, New York. The Blue Jackets defeated the Islanders 3-2 in the shootout.
(October 4, 2013 - Source: Bruce Bennett/Getty Images North America) Getty Images

    Columbus looking at options with Johansen not at camp.

  12. Report: Johansen has gotten no shortage of KHL offers

    Sep 20, 2014, 11:36 PM EDT

    Columbus Blue Jackets  v Pittsburgh Penguins - Game Two Getty Images

    The restricted free agent seems to be at an impasse with Columbus.

  13. Merrill day-to-day with ‘wind taken out of him’ after head hit

    Sep 20, 2014, 11:01 PM EDT

    Jon Merrill Getty Images

    Devils GM Lou Lamoriello said he’s “fine,” but he initially said the same of Clowe when the player had a concussion.

  14. Versteeg looks to rebound from ‘brutal’ finish to 2013-14

    Sep 20, 2014, 10:05 PM EDT

    Los Angeles Kings v Chicago Blackhawks - Game Two Getty Images

    The knee injury he sustained during the lockout shortened season might be partially to blame for his struggles.

  15. Luongo’s ‘mind is at ease’ in Florida

    Sep 20, 2014, 9:07 PM EDT

    Roberto Luongo Getty Images

    That’s after years of being the center of a goaltending controversy in Vancouver.

  16. Championship Kings reunited after short summer

    Sep 20, 2014, 8:09 PM EDT

    Justin Williams Getty Images

    Can they be the first repeat winners since Detroit in 1997-98?

  17. Could Burns bounce between forward and defense?

    Sep 20, 2014, 6:07 PM EDT

    BrentBurns3

    Do Thornton and Marleau disagree with coach Todd McLellan on this point?

Sign up for Fantasy hockey

Top 10 NHL Player Searches
  1. C. Giroux (1116)
  2. B. Ryan (1082)
  3. J. Quick (1077)
  4. N. Horton (1054)
  5. J. Drouin (1049)