Mike Richards' contract was suddenly and without warning terminated by the Los Angeles Kings earlier this offseason. Rumors and reports emerged in the days following that Richards had been involved in some type of incident involving prescription drugs at a border crossing between Canada and the United States. Despite a possible pending legal matter, the NHLPA filed a grievance on Richards' behalf against the league. Now, we may finally see a resolution to the matter.
Bob McKenzie of TSN is reporting that Richards' representatives and the Kings are working on a settlement deal. Per McKenzie, there have been "intense efforts" to reach a settlement and that a deal could go sometime soon, even as early as today.
The Kings, of course, terminated Richards' contract, which had five-years and $22 million remaining on it, in June, citing a "material breach," after Richards was detained at the border crossing. It later was reported that the Royal Canadian Mounted Police had brought Richards into custody under suspicion of possession of a controlled substance. The NHLPA then field their grievance, which, per McKenzie, could prove problematic.
"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."
Richards was formally charged by the RCMP in late August.
As Greg Wyshynski of Yahoo Sports notes, there's no word yet on whether the Kings would suffer some type of cap penalty were they to lose the arbitration. By terminating his deal, the Kings remained responsible for $1.32 million per year worth of Richards' deal.
Assuming McKenzie's report is accurate, it certainly seems to be in the team's best interest to avoid arbitration and hammer out an out-of-court settlement with Richards.
