The New York Rangers have reportedly decided to use a compliance buyout on veteran center Brad Richards. He was scheduled to make nearly $7 million per year through the 2019-20 season.
Pierre LeBrun of ESPN passed along word of the unsurprising decision by the reigning Eastern Conference champions:
The Rangers commented on Richards' release:
Richards offered his thoughts as well:
Chris Johnston of Rogers Sportsnet notes Richards will receive more than $20 million over the next 12 years as part of the transaction:
LeBrun further broke down the payout:
Richards, 34, had six years remaining on his contract, paying him an average of $6.67 million per season. He signed a $60 million, nine-year deal with the Rangers back in the summer of 2011.
As per the buyout rules, Richards will get two thirds of the $19 million remaining in salary (paid out over the next 12 years) on his deal plus the full $8 million still owed in signing bonuses which are due over the next three summers. So in the end, once everything is paid out, Richards will have been ...
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Article written by Tim Daniels
Brad Richards Released by New York Rangers
June 20th, 2014 by Tim Daniels Leave a reply »
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