San Jose Sharks forward Evander Kane has filed for Chapter 7 in federal bankruptcy court in the Northern District of California totaling $26.8 million of debt.
In Chapter 7 bankruptcy, the court places an automatic temporary stay on an individual’s debts, stops creditors from collecting payments and prevents foreclosures on homes, among other things. Forty-seven creditors are listed in the petition.
According to the filing, Kane listed assets totaling just over $10.2 million,mostly his real estate holdings . His monthly income is minus-$91,131.13 and the 29-year-old lost $1.5 million gambling over the last month and has seven dependents, all family members.
An attachment to the petition indicated Kane might not play hockey this year, with the filing saying he, “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.”
Recently, Centennial Bank filed an $8.3 million lawsuit in Florida federal court against Kane and the Sharks over pending debt.
- Kane who has earned over $52.9 million in his NHL career is in the third season of a seven-year $49 million contract that he signed in May 2018. He has a salary of $3 million this season, with another $3 million paid as a signing bonus.