Richards has a no-move clause.
6/14/14 | 10:36AM: John Shannon tweeted last night that the window to use a compliance buyout opens on Monday June 16th just after Midnight. (Sportsnet)
The buyout period begins 48 hours after the conclusion of the Stanley Cup Final and it runs until June 30th at 5PM Eastern.
Using a compliance buyout on Richards would remove him from the Rangers salary cap but the Rangers would still owe Richards $1.05 million per year until 2025-26. (Cap Geek)
Richards has six years left on a nine-year deal that has a cap hit of $6.67 million. Richards has already received $33 million of the $60 million on his contract.
In the final three-years of his contract, the salary for Richards drops to $1 million per year. If Richards were to retire in 2017, the Rangers would be hit with cap penalties of $5.6 million for the next three seasons for the amount of money they saved with his cap hit vs his actual salary. (Cap Geek)
From the NHL CBA, article 50.9: Compliance Buy-Outs. During the "Ordinary Course Buy-Out" periods following the 2012-13 NHL Season and 2013-14 NHL Season, in addition to any other Ordinary Course Buy-Outs a Club may want to effectuate pursuant to Paragraph 13 of the SPC, each Club may elect to terminate and "buy-out" the SPC of up to two (2) additional Players (in the aggregate over the two (2) years) on a Compliance basis (a "Compliance Buy-Out") (i.e., each Club shall be entitled to a total of two Compliance Buy-Outs that may be exercised in one year or over two years). Such Compliance Buy-Outs shall be effectuated on the same terms as are set forth in Paragraph 13 of the SPC, except that (i) there shall be no charge against the Club's Averaged Club Salary in any League Year on account of a Compliance Buy-Out and (ii) any amounts paid pursuant to a Compliance Buy-Out shall be counted against the Players' Share in the League Years in which they are paid. Further, a Player who has been bought out under the Compliance Buy-Out provision of this Agreement shall be prohibited from rejoining the Club that bought him out (via re-signing, Assignment or otherwise) for the 2013-14 League Year (if that Player was bought out in 2013) or for the 2014-15 League Year (if that Player was bought out in 2014).