Sportsnet’s Elliotte Friedman has the skinny on how Mike Richards’ contract settlement with the Kings — which will run until 2032, not 2031 as first reported — will play out, from a cap perspective:
2015-16 is $3.12 million. That’s the cap recapture plus a $1.8 million payout.
2016-17 to 2019-20 is $1.57 million. That’s the cap recapture plus a $250,000 payout.
2020-21 is $700,000.
2021-22 and 2022-23 are $900,000.
2023-24 and 2024-25 are $700,000.
2025-26 to 2028-29 are $600,000.
2029-30 and 2030-31 are $500,000.
It ends in 2031-32 at $400,000.
Per an earlier Friedman report, here’s how the cap hits would’ve gone had L.A. bought out Richards last summer:
2018-19 and ’19-20: $4.2M
The league has defended the Richards settlement, saying it does not believe there’s any cap circumvention at play, adding it has been monitoring the situation closely.
“If the settlement was simply a disguised way to get favorable cap treatment, we certainly would have considered it to be a circumvention and acted accordingly,” NHL deputy commissioner Bill Daly said. “But this wasn’t that. Far from it. There is absolutely zero concern that anything that transpired here could in any way be considered a ‘circumvention’ of the CBA.
“Anyone who believes to the contrary is clearly not privy to the facts.”
It remains to be seen how teams that were “screaming bloody murder” will respond to this latest development.