The next few years for L.A. Kings' fans will be tough ones. With Ilya Kovalchuk now on unconditional waivers for the purpose of terminating his contract, the Kings will have cap space tied up in three players who no longer play for the team; Kovalchuk, Dion Phaneuf and Mike Richards. How much money are we talking about? Next season, it will be $11 million dollars in cap space for players no longer with the team, enough to sign a franchise player.
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The termination of Kovalchuk's contract means his $6.25 million that he would have made in 2020-21 will stay on the books. A buyout was not possible as Kovalchuk was over 35 when he signed the contract. The buyout of Phaneuf's in June of 2019 meant a portion of his salary remained on the books for the next four seasons; $2.19 million this season, $4.06 million next season, and $1.06 for 2021-22 and 2022-23. Richards' contract was terminated in 2015 after an incident at the Canada-U.S. border in which the RCMP arrested him for possession of oxycodone, a controlled substance, without a prescription. The cap hit will vary in totals from $250,000 to $900,000 per season right up until the end of 2025-26.
For a team so far down in the overall standings, these are all tough pills to swallow as it means improving the roster will be difficult unless or until prospects are developed.
You can see the full breakdown of the Kings' cap issues on CapFriendly by clicking here.
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