LA Kings Terminate Mike Richards’ Contract Citing “Material Breach”

Los Angeles Kings center Mike Richards, shown here during the
on-ice celebration after he helped lead the Kings to the
2012 Stanley Cup Championship on June 11, 2012,
at Staples Center in Los Angeles.
(click above to view larger image)
Photo: Gann Matsuda/FrozenRoyalty.net

LOS ANGELES — On June 29, the Los Angeles Kings terminated the contract of veteran center Mike Richards, citing a “material breach” of his contract.

The team issued the following statement.

“The Los Angeles Kings today have exercised the team’s right to terminate the contract of Mike Richards for a material breach of the requirements of his Standard Player’s Contract.”

The Kings also stated that there would be no further comment or details provided, at least, not in the immediate future.

Read more of this post

When It Comes To Mike Richards, Loyalty Becomes A Double-Edged Sword For LA Kings GM Dean Lombardi

Los Angeles Kings center Mike Richards (center, with Stanley Cup behind his right shoulder), shown here during the
the team’s 2012 Stanley Cup Championship rally at Staples Center in Los Angeles on June 14, 2012.
(click above to view larger image)
Photo: David Sheehan/CaliShooterOne Photography

 

LOS ANGELES — On June 28, as expected, the Los Angeles Kings placed veteran center Mike Richards on unconditional waivers. Once he clears waivers, the Kings will buy out his contract.

Although the buy out will give the Kings immediate salary cap relief, giving them an estimated $4.5 million extra to work with under the cap per capfriendly.com and generalfanager.com (Kings salary cap would be an estimated $61.8 million, down from $66.4 million), the buy out will be amortized over ten years, as far as the salary cap is concerned, with the Kings taking the following cap hits:

2015 LA Kings Draft Preview

LOS ANGELES — In the 2012 National Hockey League Draft, the Kings had the final selection (30th overall). In 2014, they had the 29th overall pick, one ahead of the New Jersey Devils, who were moved behind all the other NHL teams in the first round as punishment for signing forward Ilya Kovalchuk to a contract that circumvented the league’s salary cap rules.

Getting stuck with the last pick in the first round of the draft (or 29th in 2014) was the “price” the Kings paid for winning the Stanley Cup in 2012 and 2014.

Read more of this post

LA Kings Mike Richards On Waivers: Players Taking It In Stride

Los Angeles Kings center Mike Richards (center, with Stanley Cup behind his right shoulder), shown here during the
the team’s 2012 Stanley Cup Championship rally at Staples Center in Los Angeles on June 14, 2012.
(click above to view larger image)
Photo: David Sheehan/CaliShooterOne Photography

 

AUDIO: Includes audio interviews with Los Angeles Kings Dustin Brown, Robyn Regehr, and President/General Manager Dean Lombardi.


EL SEGUNDO, CA — Returning to practice ice after the National Hockey League All-Star break usually isn’t all that eventful for a team, but that was not the case for Los Angeles Kings, who found out that one of their own, veteran center Mike Richards, had been placed on waivers earlier in the day on January 26.

As reported earlier in this space, Richards’ poor 2013-14 performance has carried into the current season, and he has shown no sign of breaking out of his deep funk. That left President/General Manager Dean Lombardi with no choice, even though Richards is a deeply respected veteran who played a critical role in the Kings winning the 2012 Stanley Cup Championship and contributed to their second Stanley Cup Championship last season.

Read more of this post

LA Kings GM Dean Lombardi On Mike Richards’ Future: “It’s Going To Be Up To Him”

Los Angeles Kings center Mike Richards, shown here during the
on-ice celebration after he helped lead the Kings to the
2012 Stanley Cup Championship on June 11, 2012,
at Staples Center in Los Angeles.
(click above to view larger image)
Photo: Gann Matsuda/FrozenRoyalty.net

EL SEGUNDO, CA — As much as Los Angeles Kings President/General Manager Dean Lombardi talks when the media can get ahold of him for an interview, we often have to go through channels to reach him and sometimes, it can take weeks to finally get a chance to speak with him.

But on this day, Lombardi came downstairs from his offices at the Kings’ practice facility, the Toyota Sports Center in El Segundo, California, and asked the local media watching the team practice…

“Does anyone need to talk to me?”

Of course, he knew that, after having placed veteran center Mike Richards on waivers earlier in the day, the answer would be a resounding “yes.”

Read more of this post

Follow

Get every new post delivered to your Inbox.

Join 158 other followers