Kings, NHLPA announce settlement in Richards grievance

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The Los Angeles Kings announced today that they have “reached an agreement with Mike Richards to resolve the grievance filed in relation to the termination of his NHL Standard Players Contract. The terms are agreeable to all parties.”

The club said that it will not be commenting further “on the terms” of the settlement.

The NHLPA released a similar statement.

It was reported earlier in the week that a settlement was close to being reached; however, it wasn’t clear what salary-cap penalties the Kings would incur.

We’re starting to find out some details now:

How the final numbers differ from what the Kings would have incurred if they’d bought Richards out will be interesting to see. And if there are differences, how will they be justified?

Stay tuned.