New York, NY (SportsNetwork.com) - The New York Rangers have bought out the contract of forward Brad Richards.
The club assumed the final six years of the nine-year, $60 million deal Richards signed in 2011.
TSN Canada reported earlier Friday that Richards will receive $12.6 million through the 2025-26 NHL season as part of the buyout. He will also receive $8 million over the next three years from the Rangers because signing bonuses can not be bought out.
"I loved being a Ranger and living in New York and playing at [Madison Square Garden] in front of great fans," Richards said. "With this decision finalized, I can now look forward to starting the next chapter in my career."
Richards played in all 82 games this past season for the Rangers, scoring 20 goals and adding 31 assists for 51 points. During the team's postseason run to the Stanley Cup Finals this spring, he contributed five goals and seven assists in 25 games.
In 210 games over three seasons with New York, Richards scored 56 goals and had 95 assists.
"This was an extremely difficult decision to make because of how much respect I have for him," Rangers president and general manager Glen Sather said.
Over his 14-year career with Tampa Bay, Dallas and New York, Richards has 276 goals and 591 assists. He won a Stanley Cup with the Lightning in the spring of 2004.