On Monday, the Los Angeles Kings placed Mike Richards on unconditional waivers with the intention of buying out his contract. Shortly after the news broke, Sportsnet’s Chris Johnston calculated the extent of the damage:
Mike Richards will receive $14.67M over 10 years from his #LAKings buyout. Dean Lombardi's loyalty comes at a price since it counts on cap.
— Chris Johnston (@reporterchris) June 28, 2015
Kings general manager Dean Lombardi could have bought Richards out last year, using one of the compliance buyouts that the league tossed out as life preservers after the new collective bargaining agreement came into effect in 2012-13.