The Los Angeles Kings have reportedly been shopping Mike Richards after his role with the team in 2014-15 declined to the point where he spent some time in the minors. The belief was that the Kings would have to include another asset to make any trade work, which isn’t surprising given that Richards has already previously cleared waivers, but either way it looks like a trade might not be in the cards.
Per LA Kings Insider:
I’m getting the strong feeling, through multiple channels, that there hasn’t been any clear movement, and no viable suitors have stepped forward at this time. Similar to the attempt to move the center near the trading deadline, there are simply no proposals that make any sense for the Kings as of this writing. Could that change? Sure, it could change. But don’t expect Richards back next year. He’s likely to be moved, either through a trade (which doesn’t appear to be materializing at this point), or via buy-out.
Even if Los Angeles were to include another asset in an effort to entice teams, Richards’ $5.75 million annual cap hit through 2019-20 would be a tough pill to swallow. Additionally, if he retires before the end of his contract, then there would be cap recapture penalties to consider.
Buying out Richards would save Los Angeles a little over $4.5 million in cap space for the 2015-16 campaign, but the Kings would be incurring a cap penalty from his buyout through 2024-25. At its height that penalty would climb to roughly $4.2 million for 2018-19 and 2019-20 before it drops to about $1.5 million annually for five seasons.