Jun 20, 2014, 12:47 PM EST
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:
1/2 Lots of talk today about #NYRangers Brad Richards. Here’s a look at his annual cap recapture penalties, by retirement year.
— CapGeek (@capgeek) June 4, 2014
2/2 As follows: 2014: $2.167M x 6 2015: $2.966M x 5 2016: $4.166M x 4 2017: $5.666M x 3 2018: $5.666M x 2 2019: $5.666M x 1
— CapGeek (@capgeek) June 4, 2014
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:
Brad Richards is seventh in all-time NHL earnings at $89M, per capgeek. He’ll now get $20M from the buyout, plus another contract. #NYR
— Chris Johnston (@reporterchris) June 20, 2014
Update: Per Sportsnet, Richards cannot sign with a new team until July 1.
Jan 31, 2015, 11:57 AM EST
They’ve surpassed the early season expectations.
Jan 31, 2015, 10:11 AM EST
But he seems very reluctant on the matter.
Jan 31, 2015, 9:24 AM EST
Is that what’s best for Carolina in the long term?
Jan 31, 2015, 2:00 AM EST
Anaheim has now lost two straight in regulation for the first time since November.
Jan 31, 2015, 1:15 AM EST
Sabres conclude January with an 0-12-0 record.
Jan 31, 2015, 12:15 AM EST
Shattenkirk had the shootout winner.
Jan 30, 2015, 11:35 PM EST
He’s now tied with Dino Ciccarelli on the all-time points list.
Jan 30, 2015, 11:00 PM EST
Kris Letang has assisted on Pittsburgh’s last seven goals.
Jan 30, 2015, 10:15 PM EST
Mark Hunter has also been a rumored replacement.
Jan 30, 2015, 9:30 PM EST
He’s a restricted free agent after this season.
Jan 30, 2015, 8:45 PM EST
The 18-year-old is playing in his 3rd career AHL game tonight.
Jan 30, 2015, 8:00 PM EST
Was 6-0-0 in his previous seven appearances entering tonight.
Jan 30, 2015, 7:05 PM EST
It could happen at the World Cup though.
Jan 30, 2015, 5:16 PM EST
“We would be thrilled to have them play at our venue.”
Jan 30, 2015, 4:24 PM EST
Ville Pokka is a fun name.
Jan 30, 2015, 3:57 PM EST
Spent last season in Buffalo.
Jan 30, 2015, 3:37 PM EST
Oklahoma City and Worcester do not.
Jan 30, 2015, 3:26 PM EST
Key Western Conference tilt tonight at Honda.
Jan 30, 2015, 2:48 PM EST
Not that that’s likely. Just…possible.
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