After retiring from playing, Richards spent four seasons as an assistant coach for the Milwaukee Admirals. The Admirals advanced to the playoffs each year. In 2004, Milwaukee won the Calder Cup, after sweeping the Wilkes-Barre/Scranton Penguins in four games.
On August 3, 2006, Richards became the fifth head coach of the Wilkes-Barre/Scranton Penguins. During his first season, he guided Wilkes-Barre/Scranton to a 51-24-2-4 record and a second-place finish in the AHL’s East Division. The Penguins advanced to the East Division Finals before falling to the Hershey Bears.
Richards signed as an assistant coach with the San Jose Sharks of the NHL for the 2008–09 season.
Richards became the second head coach in the history of the Minnesota Wild in June 2009, and the first native of Minnesota to hold the job. After two seasons as head coach and posting a record of 77-71-16, Richards was fired on April 11, 2011. In both seasons, the Wild were in playoff contention most of the season but ended up missing the playoffs.
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In June 2011, Richards had been hired by the Columbus Blue Jackets as an assistant coach under head coach Scott Arniel.[2] After a poor first half of the season, Arniel was fired on January 9, 2012, and Richards was named as interim head coach.[3]
On May 14, 2012, the Columbus Blue Jackets signed Richards to a two-year contract, making him the sixth full-time coach in team history.[4] On April 19, 2014, Richards led the Blue Jackets to their first ever Stanley Cup playoff victory, a 4-3 double overtime win over the Pittsburgh Penguins.[5] On April 23, Richards coached the Blue Jackets to their first ever Stanley Cup playoff home victory, winning 4-3 in overtime over the Pittsburgh Penguins.[6] On May 27, the Blue Jackets signed Richards to a two-year contract extension through the 2016-17 season.[7] On October 21, 2015, after starting the season 0–7, the Blue Jackets relieved Richards of his duties as head coach.[8]
On June 7, 2016, the Tampa Bay Lightning hired Richards as an assistant coach.[9] On September 28, 2020, he won the Stanley Cup with the Lightning.