Report: Kings, Richards nearing settlement

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The Los Angeles Kings and Mike Richards may be nearing a settlement in their dispute over Richards’ terminated contract, TSN’s Bob McKenzie is reporting.

You can read the report for all the details, but we’re sure curious about this part:

If a settlement is reached, there’s no word yet on what salary cap penalties the Kings would still face. There’s bound to be something, but not likely as onerous as the full value of Richards’ contract, which carries with it a cap hit of $5.75 million. If there’s a settlement, Richards would undoubtedly become a free agent though there’s no telling at this point what monies he would be entitled to from the Kings in a settlement.

The issue here is precedent, and what this case could set. The NHL and NHLPA can’t allow teams to escape onerous contracts through a back door, and many are adamant that that’s what the Kings were attempting to do in Richards’ case.