Sharks’ Evander Kane files for bankruptcy after racking up more than $ 26 million in debt

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Evander Kane filed for bankruptcy in California. (Photo by Brandon Magnus / NHLI via Getty Images)

It should have been a contract that would have taken care of him and his family for generations. But less than three years after signing a $ 49 million contract extension with the San Jose Sharks, Evander Kane is said to have filed for bankruptcy.

Kane has apparently declared more than $ 26 million in debt under Chapter 7 bankruptcy in a California court, according to court records obtained by Daniel Kaplan of The Athletic.

Kane faces nine lawsuits from active lenders, according to court documents. Bank says it owes Kane $ 8.3 million.

The report also contained a note that Kane might not play for the Sharks this season and therefore be unable to earn what would have been the cut salary of $ 6 million.

According to the Kaplan report:

“The debtor can terminate his contract and he can withdraw from the season, as the current rules allow, due to health problems given the recent birth of his first child. If he terminates his contract or retires at some point in the season, Debtor will not receive his salary.

It’s important to note that Kane missed the NHL-imposed deadline for retiring from the season and has been training with the Sharks since training camp began.

Two things immediately spring to mind when considering Kane’s serious financial problems.

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 fight deal.

Kane, who is trained in boxing, does not have the star power that McGregor possesses, but could be considered a strong opponent for the YouTuber based on the value of his name and ability. Getting attached to Paul might be the fastest way for Kane to collect a large sum of money in no time.

Beyond his interest in the game, it’s unclear how Kane earned over $ 50 million in career income.

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