News: Kings Terminate Richards Contract … Bruins Trade for Rinaldo

“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. We are not prepared to provide any more detail or to discuss the underlying grounds for the contract termination at this time.”

Bob McKenzie: “As far as NHL and LAK concerned, Kings are free of obligation to Richards and he’s off LA cap, player eligible to sign anywhere. It is likely player, his reps/NHLPA will dispute NHL/LAK interpretation tho low likelihood of anticipated grievance resolution before July 1

Bob McKenzie: “Note: Even tho LAK terminated Richards’ contract, they are still responsible for a cap recapture amount, per CBA. If Richards/NHLPA file grievance over LAK termination, it will be heard by joint-appointed NHL-NHLPA Impartial Arbitrator. Grievances often takes months, sometimes years, to be heard but request can be made for expedited hearing that sometimes take days or weeks.”