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San Jose Sharks forward Evander Kane filed for bankruptcy, according to multiple reports, two years after signing a seven-year, $49 million contract.
Per The Athletic, the 29-year-old’s Chapter 7 filing list liabilities of $26.8 million. It also lists payment of $1.5 million to The Cosmopolitan of Las Vegas for unpaid gambling debt and a $1.88 million counterclaim of a 2016 battery charge. He also claims seven dependents living with him: his 6-month-old daughter, 27-year-old sister, his mother, father, two uncles and his grandmother.
The filing also noted that Kane may opt out of the NHL season “because of health concerns given the recent birth of his first child.” If he does so, he would not be paid — though he pointed to the shortened 56-game season as a potential issue for paying off his debts, as well.
“Debtor understands that even if all scheduled games are played, his salary will be adjusted based upon the reduced number of games,” the filing read. “To the extent some of the games do not go forward because of the pandemic (or any other reason), Debtor’s salary will be further reduced. Moreover, Debtor understands that under the current collective bargaining agreement between the players’ union and the owners, 20% of his salary will be withheld and will be released to the owners under the ‘profit sharing’ structure of the agreement due to the anticipated significant reduction in revenues across the league.”
In total, Kane noted 47 creditors in the petition, including Centennial Bank, which brought a suit against the winger and the Sharks for $8.3 million last week, according to San Jose Hockey Now.
Kane has played for three NHL franchises over his 11 seasons in the league. He was the No. 4-overall pick by the Atlanta Thrashers in 2009 and moved with the team to Winnipeg. He was traded to the Buffalo Sabres in 2015, and dealt to the Sharks in 2018. Per capfriendly.com, he’s earned $52.9 million in his career.