Mike Richards Is Nearing a Settlement with Flyers West
The day after Todd Fedoruk spoke of local cops taking care of partying Flyers, there’s Mike Richards news.
Richards and the Kings may be nearing a settlement in what would’ve become a long and drawn out legal process following the Kings’ decision to cut Richards for a breach of contract after he was found with painkillers at the Canadian border. [This really does sound like one of my satire pieces from when Richie and Carts went to see Becks but Becks wasn’t there.]
No one – not the Los Angeles Kings or Mike Richards and his representatives want to even acknowledge it due to the sensitivity of the subject matter – but there continues to be intense efforts to reach a negotiated settlement over their differences.
It sounds like talks are far enough along that it could possibly get wrapped up today, but that is by no means guaranteed.
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A negotiated settlement makes sense for both parties. If it goes to arbitration, the arbitrator would rule in favor of one party or the other. So the Kings would either be free and clear of Richards’ contract or they would be fully on the hook for the balance of the deal. Likewise, Richards would end up with either nothing or everything he’s owed. So there’s considerable risk for both sides in an arbitration.
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.
Epic flame out from Richards. Truly historic. From Captain to Gold Medal winner to Cup champ to narco fighting for shards of his big-time contract. Sniffle.