Jun 20, 2014, 12:47 PM EDT
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.
Sep 1, 2014, 11:00 PM EDT
Easy to see why.
Sep 1, 2014, 9:01 PM EDT
Edmonton wants to assess Leon Draisaitl, it seems.
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Sep 1, 2014, 6:05 PM EDT
Part two of today’s Labor Day posts.
Sep 1, 2014, 4:22 PM EDT
Part one of two Labor Day “theme” posts.
Sep 1, 2014, 2:55 PM EDT
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Sep 1, 2014, 12:10 PM EDT
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Sep 1, 2014, 10:46 AM EDT
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Sep 1, 2014, 9:25 AM EDT
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Sep 1, 2014, 8:00 AM EDT
Monday’s collection of links.
Aug 31, 2014, 11:01 PM EDT
He continued to follow their summer moves after he was fired.
Aug 31, 2014, 9:44 PM EDT
The late creator of Peanuts was a big hockey fan.
Aug 31, 2014, 8:26 PM EDT
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Aug 31, 2014, 7:03 PM EDT
“I think that would make it a little more equitable for match-ups.”
Aug 31, 2014, 5:41 PM EDT
He spent the 2013-14 campaign in the KHL.
Aug 31, 2014, 4:22 PM EDT
He served as an assistant general manager in Los Angeles before coming to Philadelphia.
Aug 31, 2014, 3:02 PM EDT
After matching a career-low in goals during the 2013-14 season, he’s hoping for big things with the Coyotes.
Aug 31, 2014, 1:30 PM EDT
Add depth to blue line in Albany.
Aug 31, 2014, 12:03 PM EDT
Hopes to play in the NHL in 2014-15.
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