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Kings Terminate Contract Of Forward Mike Richards - Los Angeles Kings | News

King's terminate Mike Richard's contract:

Quote:

LOS ANGELES -- The Los Angeles Kings have terminated the contract of forward Mike Richards, the club announced today.

The club has issued the following statement and will not comment any further at this time:

“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.”

Still successful as hell

World JR Gold, Memorial Cup, Calder Cup, Olympic Gold, 2X Stanley Cup winner

#yolo

Quote:

Originally Posted by Hondaracer (Post 8653873)

The sad thing is, most of the time now Jake is actually the voice of reason

I still remember there was one morning where there was nothing good on the radio during my commute to work so I turned on tsn1040.
Pratt said something dumb and Jake agreed with him.
Aaron Ward put those 2 guys in their places telling them they were wrong and why. :fuckyea:
Oh yeah, and the 2 weeks when both Pratt and Jake was off for holidays during Christmas, that was when my radio was stuck on TSN 1040. :accepted:

The Kings are so fucking bush league.

Donald Fehr and Newport Sports and Entertainment are going to tear Lombardi a new asshole. The inevitable lawsuit is going to cost more than the buyout would've, guaranteed.

So the Kings don't have to buy him out, pay him or have him on the cap?

Quote:

Originally Posted by Ronin (Post 8653930)

So the Kings don't have to buy him out, pay him or have him on the cap?

As of right now, Richards' contract is considered void. They owe him nothing, no cap hit, no cap penalty (edit: or not, see below).

It won't stick, however.

Edit: Cap Recapture Penalty apparently applies

pretty broad term that material breach.

could they have a case if it was related to substance abuse and/or Stoll?
I'm not too familiar with terms surrounding a voided contract.

Quote:

Originally Posted by Jmac (Post 8653929)

Hey I wouldn't mind being bush league if that meant having 2 stanley cups... :okay:

Quote:

Originally Posted by 6o4__boi (Post 8653937)

pretty broad term that material breach.

could they have a case if it was related to substance abuse and/or Stoll?
I'm not too familiar with terms surrounding a voided contract.

Substance abuse isn't considered a material breach of contract as the NHL and NHLPA have a substance abuse program to help players.

Quote:

Material breach is a contract law term which refers to a failure of performance under the contract which is significant enough to give the aggrieved party the right to sue for breach of contract. When there has been a material breach, the aggrieved party is also relieved of a duty of further performance under the contract. However, a minor divergence from the terms of the contract is not a material breach. A material breach is one that is significant enough to destroy the value of the contract.

A lawsuit for material breach of contract is a civil action and the remedies awarded are designed to place the injured party in the position they would be in if not for the breach. Remedies for contractual breaches are not designed to punish the breaching party.

The following circumstances are important to determine whether a failure to render or to offer performance is material:

1. The extent to which the injured party shall be deprived of the benefit or profit which s/he reasonably expected;

2. The extent to which the injured party can be adequately remedied or compensated for the part of that benefit of which s/he shall be deprived;

3. The extent to which the party failing to perform or to offer to perform shall suffer forfeiture;

4. The likelihood that the party failing to perform or to offer to perform shall correct such failure, taking account of all the circumstances including any reasonable assurances; and

5. The extent to which the behavior of the party failing to perform or to offer to perform is according to the standards of good faith and fair dealing.

Quote:

Substantial failure in the performance of a contract, significant enough to release the aggrieved party from its obligation and accrues to it the right to sue for damages.

Read more: http://www.businessdictionary.com/de...#ixzz3eTuRdFMZ

Kings Penalty

Total Payment: $29.6M
Total Cap Charge: $23M

Difference: $6.6M

Term Remaining: 5 years

Cap Recapture Penalty: $1.32M x 5 years

Flyers Penalty

Total Payment: $17.4M
Total Cap Charge: $17.25M

Difference: $0.15M

Term Remaining: 5 years

Cap Recapture Penalty: $0.03M x 5 years

Someone was saying on the TSN comments that Richards has suffered multiple concussions throughout his career.

Take that for what its worth, but the NHL is already being sued over this issue.

he was asked to stay in la during the summer and train with team staff. he refused, thats technically a breach.
if he claims to have injury, he has been boating, fishing etc in the off season which could all worsen an injury

Zac fucking Rinaldo? A goon fetches just slightly less than Eddie Lack? Wow.

And it doesn't explain the Robin Lehner deal.

Either Hextall is a Wizard or Sweeney is a complete moron. Or both.
Either way the reactions are fuckin hilarious.

Lidstrom and Fedorov!! woohoo

Quote:

Originally Posted by dbaz (Post 8653984)

That's not a material breach unless they can prove, without a shadow of a doubt, that the training regimen he followed was so drastically detrimental to his performance that it was substantially detrimental to the team's performance. On top of that, 99% of players in the NHL follow their own summer training regimen and the NHLPA would file a grievance if a team ever attempted to force a player into a specific training regimen.

I have no doubt the Kings have something up their sleeve, but the timing of it is extremely suspect. Why wait until the 2nd-to-last day before free agency to do it? Why come out YESTERDAY slamming Richards in the news, saying it was the worst mistake Lombardi has ever made? Why make zero mention of it yesterday, spring it as a surprise today?

Unless Richards did something astronomically stupid, there's just absolutely no way the NHLPA and Richards' agency will allow this. It would set an extremely dangerous precedent.

Oy Vey........Has been resigned

What the hell is happening

Quote:

Originally Posted by xeryusx (Post 8654021)

Oy Vey........Has been resigned

What the hell is happening

He's been resigned to do what? Be a career 3rd/4th liner? :troll:

Quote:

Originally Posted by Hondaracer (Post 8653484)

TL can downplay it all they want, they essentially got zero return for lack, pathetic

Honestly, how much better of a goalie is Corey Schneider than Lack? 15%? Get 8th overall for him and Lehner gets a first and we get a single digit chance of playing an NHL game? Fuck

If lack had another 2 years on his contract at 4M per, he'd probably return a first round pick also . As it stands lack can walk away from Carolina and test the Ufa market after next year and Carolina would have nothing to show for it, who would want to give up anything substantial for that ?

Quote:

Originally Posted by Hondaracer (Post 8653487)

They have no leverage though. Even if he was to perform next year you're paying out based on potential either way.

As we see in dubnyk, you only need to perform well for half a season and you'll get paid well for the next 6 years. The leverage is knowing that some gm will almost always overpay in money and term come Ufa time .

To keep WD company in the gym?

I'm okay with $1m for Vey. I'd rather he be on a two-way or something though.

what does it mean if the Canucks don't extend qualifying offers?
do these players become ufa?