It should have been a contract that would have taken care of himself and his family for generations. But less than three years after signing a $49 million contract extension with the San Jose Sharks, Evander Kane has reportedly filed for bankruptcy.
Kane has apparently reported more than $26 million worth of debt under Chapter 7 bankruptcy in a California court, according to court records obtained by Daniel Kaplan of The Athletic.
Kane is facing nine lawsuits from since active lenders, according to court filings. One bank says it’s owed $8.3 million from Kane.
Also included in the the report was a note that Kane may not play for the Sharks this season, and therefore would be unable to earn what would have been the reduced $6 million salary.
Per Kaplan’s report:
“Debtor may terminate his contract and he may opt out of the season, as allowed under current rules, because of health concerns given the recent birth of his first child. Should he terminate his contract or opt out at a point in the season, Debtor will not receive his salary.”
It’s important to note that Kane has missed the NHL-imposed deadline to opt out of the season and has been practising with the Sharks since training camp began.
Two things immediately come to mind when considering Kane’s serious financial issues.
The first is that Kane was sued by the Cosmopolitan Hotel in Las Vegas last year for unpaid gambling debts. The second is that he recently called out YouTube star-turned-boxer Jake Paul, who has since offered former UFC champion Conor McGregor $50 million to sign a bout agreement.
Kane, who has a boxing background, does not have the star power that McGregor possesses, but might be considered a worthy opponent for the YouTuber based on name value and ability. Attaching himself to Paul might be the quickest way for Kane make back a significant chunk of money in short order.
Beyond his interest in gambling, it’s unclear how Kane tore through in excess of $50 million in career earnings.
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