The buyout of Kenora’s Mike Richards from the L.A. Kings has taken a twist.
A statement by the team Monday afternoon says the team has exercised their right to terminate the contract of Mike Richards for a material breach of the requirements of his Standard Player’s Contract.
Over the weekend the team put Richards on unconditional waivers with the purpose of buying out the remaining portion of his contract. He cleared waivers at noon – and the team’s announcement that his contract was being terminated came within hours.
Buying Ricard out would have cost the team 14.5-million dollars through 2025.
