Sometime this week, teams were informed of the breakdown for the Mike Richards settlement with the Los Angeles Kings.
The total payout is $10.5 million through the 2031-32 season, not 2030-31 as I originally reported. It is not evenly spread out over that time. The Kings chose to take the biggest hit this season.
The first five years feature an additional $1.32 million cap recapture penalty on top of the salary paid.
Here are the cap ramifications. Note: The 2015-16 total is the cap recapture plus a $1.8 million payout. The 2016-17 to 2019-20 totals are cap recapture plus a $250,000 payout.
| YEAR | CAP HIT |
|---|---|
| 2015-16 | 3.12 million |
| 2016-17 | 1.57 million |
| 2017-18 | 1.57 million |
| 2018-19 | 1.57 million |
| 2019-20 | 1.57 million |
| 2020-21 | $700,000 |
| 2021-22 | $900,000 |
| 2022-23 | $900,000 |
| 2023-24 | $700,000 |
| 2024-25 | $700,000 |
| 2025-26 | $600,000 |
| 2026-27 | $600,000 |
| 2027-28 | $600,000 |
| 2028-29 | $600,000 |
| 2029-30 | $500,000 |
| 2030-31 | $500,000 |
| 2031-32 | $400,000 |
