There's almost no good way to deal with Brad Richards' contract, and that might be why Sather might actually hold onto him at this point. Observe. (This is all according to Capgeek, btw.)
Scenario 1)
Brad Richards actually plays out his entire contract through 2020 at age 40. His cap hit would be $6.67m per year.
Scenario 2)
Buyout Brad Richards in June 2014. This would have some strange consequences. In the immediate short term, the Rangers would actually gain a cap credit of $333,333 for each of the next two seasons, effectively giving them a higher salary cap than most of the rest of the league. Then the next season the buyout cap hit would go to over $1m, but then the next three seasons get really crazy, as the buyout cap hit would suddenly become $7,166,667 per season for 2017-2020. Then the buyout cap hit would revert to $1.5m for 2020-2026.
Scenario 3)
Brad Richards retires early. Let's say he retires in the offseason of 2017, when he's 37 years old. This would leave a cap recapture penalty of $5,666,667 for each of the last three seasons on his contract.
Basically no matter how you slice it, 2017-2020 or so really fucking sucks.