San Jose Sharks’ Evander Kane files for Chapter 7 bankruptcy – The Reporter
San Jose Sharks forward Evander Kane has filed a Chapter 7 case in federal bankruptcy court.
According to the file, Kane listed assets totaling just over $ 10.2 million – mostly among his real estate holdings – and his liabilities at over $ 26.8 million. Kane’s bankruptcy filing took place in the Northern District of California.
An attachment to the petition stated that Kane may not play hockey this year, with the record indicating that he “may terminate his contract and he may opt out of the season, as current rules allow, due to health given the recent birth of her son. first child. If he terminates his contract or retires at some point in the season, Debtor will not receive his salary.
The deadline, however, for players from teams like the Sharks who did not qualify for NHL return to play last summer was December 24. Kane has been with the Sharks throughout their training camp, which began Dec. 31 in Scottsdale, Ariz. . The Sharks are scheduled to play their first game this season Thursday against the Arizona Coyotes.
The record lists six pending lawsuits, including a lawsuit filed by Centennial Bank in Florida federal court last week that claims Kane owes them more than $ 8.3 million in principal and interest after have defaulted on a loan.
The Sharks were also named in the lawsuit, which says the bank stopped receiving payments in October 2019, and the player missed a payment in December 2019 and hasn’t made any payments since then. The Sharks and Kane declined to comment.
The bankruptcy petition also states that Kane lost $ 1.5 million gambling and has seven dependents, all family members.
Kane, 29, has earned more than $ 52.9 million during his NHL career, according to figures available on CapFriendly.com. He is in season three of a seven-year, $ 49 million contract he signed in May 2018. He has a salary of $ 3 million this season, and an additional $ 3 million in bonus. signature.
In Chapter 7 bankruptcy, the court automatically and temporarily suspends an individual’s debts, prevents creditors from collecting payments, and prevents foreclosures, among other things. Forty-seven creditors are listed in the petition.
This season, under an agreement between the NHL and the NHL Players’ Association, players carry over 10 percent of their salary to future years and put 20 percent of their salary in escrow.
Kane, acquired by the Buffalo Sabers Sharks in a trade in February 2018, led San Jose last year with 26 goals. Kane has played 713 NHL games in his career, including 156 with the Sharks, and has 457 points.
Kane co-leads the Hockey Diversity Alliance, which was founded in June of last year to help eradicate systemic racism and intolerance in hockey.