from Eric Macramalla of TSN,
Richards was arrested when Canadian border guards found "some pills in a single bottle" during a random search of his car. According to Westhead's breaking report, it was small quantity intended for the hockey player's personal use.
That means Richards is looking at a simple possession charge rather than a charge for possession for the purpose of trafficking, which is a lot more serious. A trafficking charge means that a person was in possession of drugs for the purpose of selling or distributing. Richards is facing up to six months in prison and/or a $1,000 fine. Given the small amount, Richards is not going to jail assuming he's guilty of the offence (he may not be). Worst case scenario for Richards may include a fine and community service.
The issue being raised now is whether being charged will hurt Richards' likelihood of success in connection with his grievance against the Kings for unlawfully terminating his contract.
The short answer is no. Before criminal charges were filed against Richards, he stood a good chance of having an arbitrator overturn the termination of his contract. While Richards has now been criminally charged, nothing has changed as far as his chances of success.