Kings’ Richards on waivers for buyout purposes

Mike Richards. (Matt York/AP)

Mike Richards’ days with the Los Angeles Kings appear to be over.

The 30-year-old centre was placed on waivers Sunday for the purpose of a buyout.

It’s a move that will prove costly for the Kings, but one they obviously feel is necessary as they move forward under the salary cap.

Richards’ cap hit is $5.75 million. The Kings will save $4.53 million in 2015-16, but Richards’ adjusted cap hit to the Kings will rise to $4.22 million for the 2018-19 and 2019-20 seasons, according a breakdown courtesy of Mayor’s Manor.

The Kings elected to hang on to Richards following their 2013-14 Stanley Cup winning season, rather than use a compliance buyout on him — a terrible decision by GM Dean Lombardi in hindsight.

Richards, who was demoted to AHL Manchester last season, totalled five goals and 16 points in 53 games with the Kings in 2014-15.

Anaheim Ducks defenceman Mark Fistric and Montreal Canadiens forward P.A. Parenteau were also placed on waivers Sunday.

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