Kings, Mike Richards reach settlement agreement
Eric Hartline / USA TODAY Sports
The National Hockey League Players' Association announced Friday that it has reached a settlement agreement with the league and Los Angeles Kings regarding the Standard Player Contract of Mike Richards.
Los Angeles will reportedly pay a fixed annual percentage of the settlement against the salary cap to go along with a $1.32 million cap recapture penalty, according to Sportsnet's John Shannon.
The settlement penalty could exist on Los Angeles' salary cap through 2031, according to Sportsnet's Elliotte Friedman.
Richards is now an unrestricted free agent.
HEADLINES
- Crosby becomes 9th player to reach 1,700 points
- Kadri brushes off trade rumors: 'Focused on winning'
- Fan at Penguins game hospitalized after falling from upper concourse
- Sports equinox bets: Scherzer over headlines 4 picks from 4 major leagues
- Sports equinox betting: Our favorite futures picks from 4 major leagues
Advertisement