According to a source ESPN.com reports the New York Rangers have bought out Brad Richards contract. The 34 year old center had six years remaining on his contract, averaging $6.67 million per year. He signed a $60 million, nine-year deal with the Rangers in the summer of 2011.

Richards was a leader on the Rangers and after the team traded Captain Ryan Callahan for Martin St. Louis, some said Richards became the unofficial Captain. Richards had 51 points (20 goals and 31 assists) in 82 regular-season games this season and added five goals and 12 points in 25 playoff games.

Richards now becomes an unrestricted free agent, able to sign with any of the other 29 NHL teams starting July 1, but is not allowed to re-sign with the Rangers.