Report: Rangers buy out Brad Richards


The New York Rangers have bought out Brad Richards remainder of his contract, reports Pierre LeBrun of

Richards, 34, has six years remaining on the nine-year, $60 million contract he signed in 2011. His contract paid him an average of $6.67 million per season.

From “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 that are due over the next three summers. Once everything is paid out, Richards will have been paid about $51 million. (He made just over $2 million in salary last season during the lockout year out of his $4 million salary.)”

Richards was second on the team with 20 goals and third in points with 51 while playing all 82 games in the regular season.  But he had only five goals and 12 points in 25 Stanley Cup Playoff games.

Richards now becomes an unrestricted free agent, able to sign with any of the other 29 NHL teams starting July 1.

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  • 071189

    Well, another financial disaster for Sather. Just like the Kasparitis, Holik, Drury, Redden mistakes. Those of us who are fortunate enough to have degrees in finance & have worked decades in the financial world knew from the beginning thee deals were absolutely insane.
    That is, with the exception of Holik, who actually played well, but hated Sather for his repeated mistakes.
    However, many of the people who post, or write posts are not financially literate.
    Hopefully, they will learn in time.
    Now if Sather has any business sense at all, and I doubt it, he will use the money saved from Richards and from trading Staal to keep all his UA/FAs except for Brian Boyle
    Meanwhile, Dolan plays his banjo and life goes on.