Reports of Mike Richards on waivers..

[sniper]

nobody will claim him...someone might trade him for their overpaid useless player...Clarkson comes to mind. The only other way he's being traded is if the Kings add a draft pick or prospect. A team near that may struggle to reach the cap floor may consider it, but for the term he has left even that's iffy.

Not buying him out last off season may potentially kill the kings chances at another cup until his contract is up.

[columbia]

Pierre LeBrun ‏@Real_ESPNLeBrun 15h15 hours ago
Lombardi doesn't expect Richards to be claimed on waivers. Says looked at trade route but no fit. Hopes Mike will re-discover game in AHL

That's a lot of cheddar to pay an AHL player (even if only for a short period of time).

[ville5]

This is a risky move by Lombardi no? Aren't the Kings super screwed if Richards retires?

[GSdrums87]

This is a risky move by Lombardi no? Aren't the Kings super screwed if Richards retires?

If I'm not mistaken, you're only screwed on the cap hit if the player signs the contract at 35+ years old and then decides to retire.

[MRandall25]

I mentioned this in the transactions thread, but I'm fairly certain the Kings will have cap recapture penalties if Richards retires. McKenzie mentioned it but didn't really specify as to why. Meow said it may be because his salary is higher than his cap hit.

[meow]

I mentioned this in the transactions thread, but I'm fairly certain the Kings will have cap recapture penalties if Richards retires. McKenzie mentioned it but didn't really specify as to why. Meow said it may be because his salary is higher than his cap hit.

I've been schooled from someone that knows bigger words than I do on the subject:
Richards has played 3.57 seasons for LA, earning $26.5 million dollars, while only using $20.5 million dollars in cap space; a difference of $6 million dollars. That $6 million dollar figure is what the Kings would be penalized for if Richards retires prior to the end of the contract. If he has 6 years left on the contract, LA would have a $1 million cap penalty for each of the next six seasons. If he has 1 year left, LA would have a $6 million cap penalty for the one season Richards was suppose to be under contract for.


I think...

[Digitalgypsy66]

So how many more years will the Mets be paying Bobby Bonilla when the Richards deal is finished? That's the real measuring stick to how bad an athlete's contract is.

[JS©]

So how many more years will the Mets be paying Bobby Bonilla when the Richards deal is finished? That's the real measuring stick to how bad an athlete's contract is.

Dipietro's deal might be just as bad (or good, depending on which side of it that you're on)

[shmenguin]

The 2008 version of me can't stop laughing about how zero teams in the nhl wanting anything to do with captain leadership right now.

...that guy is also ignoring the bloated contract factoring in, but none the less...ha.

[Idoit40fans]

I mentioned this in the transactions thread, but I'm fairly certain the Kings will have cap recapture penalties if Richards retires. McKenzie mentioned it but didn't really specify as to why. Meow said it may be because his salary is higher than his cap hit.

I've been schooled from someone that knows bigger words than I do on the subject:
Richards has played 3.57 seasons for LA, earning $26.5 million dollars, while only using $20.5 million dollars in cap space; a difference of $6 million dollars. That $6 million dollar figure is what the Kings would be penalized for if Richards retires prior to the end of the contract. If he has 6 years left on the contract, LA would have a $1 million cap penalty for each of the next six seasons. If he has 1 year left, LA would have a $6 million cap penalty for the one season Richards was suppose to be under contract for.


I think...

That makes sense to me and is pretty manageable if so...but that wasnt my understanding.

[meow]

I mentioned this in the transactions thread, but I'm fairly certain the Kings will have cap recapture penalties if Richards retires. McKenzie mentioned it but didn't really specify as to why. Meow said it may be because his salary is higher than his cap hit.

I've been schooled from someone that knows bigger words than I do on the subject:
Richards has played 3.57 seasons for LA, earning $26.5 million dollars, while only using $20.5 million dollars in cap space; a difference of $6 million dollars. That $6 million dollar figure is what the Kings would be penalized for if Richards retires prior to the end of the contract. If he has 6 years left on the contract, LA would have a $1 million cap penalty for each of the next six seasons. If he has 1 year left, LA would have a $6 million cap penalty for the one season Richards was suppose to be under contract for.


I think...

That makes sense to me and is pretty manageable if so...but that wasnt my understanding.

Keep in mind, this scenario only plays out if he retires.

[Great58]

I mentioned this in the transactions thread, but I'm fairly certain the Kings will have cap recapture penalties if Richards retires. McKenzie mentioned it but didn't really specify as to why. Meow said it may be because his salary is higher than his cap hit.

I've been schooled from someone that knows bigger words than I do on the subject:
Richards has played 3.57 seasons for LA, earning $26.5 million dollars, while only using $20.5 million dollars in cap space; a difference of $6 million dollars. That $6 million dollar figure is what the Kings would be penalized for if Richards retires prior to the end of the contract. If he has 6 years left on the contract, LA would have a $1 million cap penalty for each of the next six seasons. If he has 1 year left, LA would have a $6 million cap penalty for the one season Richards was suppose to be under contract for.


I think...

That makes sense to me and is pretty manageable if so...but that wasnt my understanding.

Keep in mind, this scenario only plays out if he retires.

I don't know how much $ is left on his contract, but with 5 years left I imagine that will still be serious money, so I don't see Jeff retiring anytime soon.

[mikey287]

I think it's like 5 years, $22 million left or some such...

[ville5]

I thought the recapture penalty was higher. $1million isn't bad at all.

[meow]

I thought the recapture penalty was higher. $1million isn't bad at all.

It's tough for a team operating as close to the cap as the Kings are.

[Idoit40fans]

If they can survive Mike Richards at whatever his cap hit was, they can survive a 1 million dollar cap penalty. He hasn't been a $5 million dollar cap hit player for them.

[meow]

Lucky for them they have some serious producers on ELCs

[Sarcastic]

I think it's like 5 years, $22 million left or some such...

Mikey, his contract is a serious problem so help me out here. I don't know the rules for such a case, but are all contracts non-negotiable once signed? What I'm getting at... could he willingly cut his salary to push forward a trade to another team?

[mikey287]

No, he cannot. The Kings can retain a certain percentage (up to 50%) if they so choose though.

[Sarcastic]

No, he cannot. The Kings can retain a certain percentage (up to 50%) if they so choose though.

So he's stuck with it. OK, Thanks. I just asked because I'm sure he's a proud guy and if he has to play in the minors for several years...

[meow]

It's called the Wade Redden.

[JS©]

Lucky for them they have some serious producers on ELCs

but aren't most of those players in the final year of their ELCs?

[meow]

Lucky for them they have some serious producers on ELCs

but aren't most of those players in the final year of their ELCs?

Yup. All their young forwards will be RFA this offseason.