The San Jose Sharks and forward Evander Kane are in some hot water. On Monday evening, it was announced that the Vancouver, BC native had filed for Chapter 7 Bankruptcy in San Jose, CA.
According to his official fillings, Kane had recently been seeing his yearly salary go directly from the Sharks to Centennial Bank, in hopes of paying off a hefty loan, until he directed the team to stop all payments, for reasons unknown.
Kane, 29, has had a long history of ‘problems’, whether financial, conflicts with teammates, social media posts or run-ins with the law. However, none have appeared as serious as the most recent challenge he is now facing.
The former Winnipeg Jets forward placed a bankruptcy filings of $26.8 million, stating a monthly earnings of -$91,131.10 and six open lawsuits. One lawsuit is a countersuit Kane has filed against the woman who claimed battery against him in 2016. However, all other suits do not work in his favour. They include two lawsuits from banks, one from his former agency, a loan broker as well as a casino.
The majority of his losses can be tied to various stints of high-levels of gambling. One debt from the past calendar year indicates a $1.5 million loss. Breaking down his most recent suit from Centennial Bank (to which Kane owes $8.9 million) he is out $7.8 million in principal, another $500K in interest, and roughly $90K in bank fees. His bankruptcy fillings showcase three homes within his assets, to the tune of $10.2 million. Adding to that is his list of seven dependents, including his newborn daughter.
Despite beginning his NHL career at the ripe age of 17 with the then Atlanta Thrashers, Kane followed the team to Manitoba, where the first reports of unrest began. Following six seasons with the Thrashers/Jets franchise, Kane was sent packing to Buffalo in trade that saw Winnipeg earn the right to select Jack Roslovic.
He spent three seasons with the Sabres before being dealt to San Jose, where he has since signed a monster seven-year, $49 million deal to remain a Shark through the 2024-25 NHL season. In his 11-year career, Kane is estimated to have earned $53 million. He is somehow $26.8 million in debt.