A person familiar with the decision has told The Associated Press that the Los Angeles Kings placed veteran forward Mike Richards on unconditional waivers for the purpose of buying out the remainder of his contract.
The person spoke on the condition of anonymity on Sunday because the Kings have not announced the decision.
It's a pricey move for the Kings, because Richards has five years left on a $69 million, 12-year contract that carries a $5.75 million annual salary cap hit.
Richards' future in Los Angeles was already in question after the Kings demoted the 10-year NHL veteran to Manchester, their American Hockey League affiliate, in January.