Richards has six years remaining on his nine year deal with the Rangers with a No Movement Clause.
Included in his contract, Richards still has eight million dollars in signing bonus to collect from the Rangers.
$6,666,667 per year
Actual Payout by the Years:
2014-15: $8.5 mil plus $2mil in signing bonus
2015-16: $8.5mil plus $2mil in signing bonus
2016-17: $7mil plus $4mil in signing bonus
Method Of Acquisition:
Richards signed with the Rangers as an Unrestricted Free Agent.
As a top six center for the Rangers, Richards produced a decent amount of overall points. He was never a standout player for the Rangers in the same way as he was for the Tampa Bay Lightning. "Ritchie" is known for being a team first player and for being a strong presence in the dressing room.
Richards was not worth the astronomical contract he currently collects. At 34 years old, Richards is already showing signs of slowing down and because the contract was signed years ago, the remaining years do not count under the 35+ contract discount. The other thing to keep in mind is if Richards is traded to another team and retires early, or retires from the Rangers, the cap hit remains in effect and the Rangers are in the hole and short a player. For a further understanding read this. The Rangers have one remaining compliance buyout; they have to use it on Richards based on his age, declining skills, and his number of remaining years.