Rangers Buy Out Brad Richards’ Contract

Len Redkoles/NHL via Getty Images(NEW YORK) -- The Brad Richards era is over in New York as the team has decided to buy out the remaining six years of the veteran's contract.

The 34-year-old Richards signed a nine-year deal with the Rangers back in 2011 worth $60 million.

He will receive two-thirds of the $19 million still owed to him in remaining salary, which totals up to about $12.6 million of the next 12 years as well as the full $8 million signing bonus still owed over the next three summers.

"Tough last few days," Richards said in a statement. "I loved being a Ranger and living in New York and playing at MSG in front of great fans. ... (President and GM) Glen Sather, the management and owner, Mr. Dolan, are all class acts. I want to thank them for letting me be a part of New York life and the Rangers family."

Richards is a 13-year NHL veteran who scored 867 career points with the Tampa Bay Lightning, Dallas Stars, and the Rangers.

Copyright 2014 ABC News Radio

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