Sharks’ Evander Kane Files for Chapter 7 Bankruptcy

Evander Kane has officially filed for Chapter 7 Bankruptcy in the state of California. The 29-year-old San Jose Sharks forward is currently in the third season of a seven-year contract with the Sharks, to which his payment is now reportedly going directly to Centennial Bank.

Last Thursday, Kane and the Sharks were sued by Centennial Bank for $8.9 million owed following a $3.9 million loan dating back to September of 2018. Further loans followed, with Kane unable to pay back the bank. The owings then began coming directly off San Jose’s payroll. This, however, stopped in October of 2019, while Kane hasn’t made a payment since that date either.

According to the complainant, Kane owes $7.8 million in principal, roughly $500K in interest, and about $90K in bank fees as of December 11, 2020. Kane’s filling provided a liability breakdown of $26.8 million three homes (considered assets) totalling $10.2 million.

That is just one of the six total lawsuits Kane is currently dealing with.

Also included within the filling is an admission of $1.5 million lost to gambling in 2020, five other active lawsuits, a monthly income of -$91,131.10 and a $1.2 million credit to Sure Sports. Potentially working in his favour is an open counterclaim lawsuit he filed against Rachel Keuchele, the woman involved in the 2016 battery suit.

By all estimations, Kane has earned approximately $53 million over his 11-season NHL career. His fillings did detail seven dependents living under (one of) his roof(s), including: his 6-month-old daughter, his sister, 27, his uncle, 54, his mother, 55, another uncle, 59, his father, 60, and his grandmother, 77.

Kane now joins the likes of Darren McCarty, Bryan Trottier and Jack Johnson as fellow NHLers who have filed for bankruptcy either during or following the conclusion of their professional playing career.

Kane is the second-highest-paid player on San Jose’s roster, earning $7 million annually, just $1 million behind team captain Logan Couture. The Vancouver, BC product signed a seven-year, $49 million deal with the Sharks in May of 2018, following a move from the Buffalo Sabres at the 2018 trade deadline.