Rangers GM Glen Sather on Richards buyout: 'This was an extremely difficult decision'

On Friday the New York Rangers bought out 34-year-old centerman Brad Richards, who didn't have to be placed on $125 unconditional waivers first because of the no-movement clause attached to his now terminated nine-year, $60 million deal. 

For Rangers general manager Glen Sather, it was a sad day. "We would like to thank Brad for everything he has done for our team on and off the ice during his time here," said the long-tenured, cigar chomping executive by way of the Rangers' twitter feed. "This was an extremely difficult decision to make because of how much respect I have for him (Brad Richards).

"Brad's leadership and guidance for our young players was invaluable to the organization. We are grateful to have had the professionalism and experience he brought as an example for our team to follow."

Richards himself added his own 'parting is such sweet sorrow' take on the transaction, calling the last few days "tough" before adding: 

I loved being a Ranger and living in New York and playing at MSG in front of great fans.

I've met many new friends, excellent teammates and staff and I have memories that I will cherish for a lifetime. [Courtesy @NYRangers]

Because of his diminished effectiveness the past two seasons, and the massive cap recapture liability represented by his now terminated contract, Richards was always very likely to get bought out by the Rangers during the buyout period. Still, as Sather's comment would suggest, his tenure as a Ranger should probably be regarded as an unmitigated success. 

During Richards' three seasons on Pennsylvania Plaza he amassed 151 points in just over 200 games, so he provided the Rangers with credible top-line forward offensive production. The team made the playoffs in all three years that Richards spent with the club, won six playoff rounds during that span, and hosted 28 home playoff games. 

So Richards was a productive if overpaid player who helped generate a tonne of revenue for ownership. He also pocketed over $31 million in salary, with more than $20 million to be paid out over the next 12 years per the terms of his buyout (per capgeek.com). 

Though it's unfortunate that the business realities of the NHL game necessitated this move on the Ranger part, that shouldn't change how we view Richards' tenure in New York. For both the club and the player, this seems like it was a win-win relationship.