tsanuri
Registered User
If he is getting paid $12M that will work out to $750K a year over that 16 year span.
Of course plus the recapture for the first 5 years.
Of course plus the recapture for the first 5 years.
Mike Richards VIII Kings vs NHLPA
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KingsFan7824
Registered User
- Dec 4, 2003
- 19,537
- 7,615
I'm guessing first 5 years something like $2mil, 2.3mil... Then after the recapture drops off, you got 10 years of like $1mil.
Much easier to absorb than what the team was looking at with a regular buyout.
Much easier to absorb than what the team was looking at with a regular buyout.
GKJ
Global Moderator
- Feb 27, 2002
- 195,282
- 45,026
KopitarFAN
Reno Sucks!
Yeah, that's probably a good ballpark, I have a hard time seeing him getting more than he would have gotten in a standard buyout ($14.67M), but he'll get a nice chunk of change.
For those that aren't aware of the Bobby Bonilla situation.
http://www.wsj.com/articles/SB10001424052748703426004575339013108198050
http://www.ocregister.com/articles/richards-686853-kings-settlement.html
He's on the books until 2031.
Amounts still have not been disclosed. Not sure what the big secret is, but I can't update the salary chart until the amounts are known.
He's on the books until 2031.
Amounts still have not been disclosed. Not sure what the big secret is, but I can't update the salary chart until the amounts are known.
Wonder how this will effect the room? If anyone doesn't think this has and will mess with player/management relationship is wearing some rose colored glasses. Could be why aKopitar hasn't signed.
Reclamation Project
Cut It All Right In Two
- Jul 6, 2011
- 34,135
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it sounds like the payout will last about 15 years. And the additional cap hit each of the 15 years will follow the payout. So, let's just say Richards receives a $15M settlement, at $1M per year payout. then the Kings will still have the recapture penalty at 1.3 or so for five years, and then an additional $1M per year for the next 15 years also. So, if these numbers were actual, the Kings would have roughly $2M in cap space left right now for this year. It does give them some wiggle room for this year then.
The players come out ahead here. Richards gets his money without the Kabuki theater of playing in the AHL etc, and the Kings have more money to spend on other players.
As long as they uphold their contract and morality clauses they should be fine.
Lombardi gave Richards more than enough chances to get his crap together.
Winger23
Registered User
- May 3, 2007
- 5,759
- 623
I assure you no rose colored glasses and I don't think it's affecting them at all. I also think you are crazy if you really think it's affecting kopis contract.
KopitarFAN
Reno Sucks!
Well, it could, but in a positive manner, as it provides more long-term financial clarity.
if players truly think that then they need to remember DL gave richards the benefit of the doubt and din't use a compliance on him.
