Buy Outs: Mike Richards, PA Parenteau, Mark Fistric

mike richards pa parenteau mark fistric buy outs

Three players were put on unconditional waivers Sunday for the purpose of buying them out, including two-time Stanley Cup winner, Mike Richards of the Los Angeles Kings. Pierre-Alexandre Parenteau of the Montreal Canadiens and Mark Fistric of the Anaheim Ducks also were placed on unconditional waivers.

The Kings attempted to trade Richards over the past few months, but could not find anyone to take on a contract, which has five years remaining with a $5.75 million cap hit. Canadiens Parenteau has one year left on his contract at $4 million. Ducks Fistric has two years left on his contract at $1.26 million per season.

Kings Richards' buy out counts against LA's cap for the next 10 years. The cap charge varies from year to year, but Richards gets $14.67 million over the next decade as his payout. Parenteau's buy out counts $1.33 million against Montreal's cap for the next two years. Fistric's buy out counts $413,000 against Anaheim's cap for the next four years.

Unless claimed on waivers, the three players become unrestricted free agents after being bought out. The deadline for the first buyout window is June 30.

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