It should have been a contract that would have provided for himself and his family for generations. But less than three years after signing a $ 49 million contract extension with the San Jose Sharks, Evander Kane has reportedly filed for bankruptcy.
Kane has apparently reported more than $ 26 million in debt under Chapter 7 bankruptcy in a California court, according to court records obtained by Daniel Kaplan from The Athletic.
Kane is facing nine lawsuits since active lenders, according to court documents. A bank says it owes $ 8.3 million from Kane.
Also included in the report was a note that Kane may not be playing for the Sharks this season and therefore would not be able to earn the lower $ 6 million salary.
According to Kaplan’s report:
“The debtor can cancel his contract and withdraw from the season, as allowed under the current rules, due to health problems given the recent birth of his first child. Should he terminate or cancel his contract at any point in the season, the debtor will not receive his salary. “
It’s important to note that Kane has missed the NHL-imposed deadline to sign out for the season and has been practicing with the Sharks since training camp began.
Two things immediately come to mind when we consider Kane’s serious financial troubles.
The first is that Kane was sued last year by the Cosmopolitan Hotel in Las Vegas for unpaid gambling debts. The second is that he recently called out YouTube star and boxer Jake Paul, who has since offered former UFC champion Conor McGregor $ 50 million to sign a match deal.
Kane, who has a boxing background, doesn’t have the star power that McGregor possesses, but can be considered a worthy opponent for the YouTuber based on name value and prowess. Getting attached to Paul is arguably the fastest way for Kane to recoup a significant portion of the money in the short term.
Aside from his interest in gambling, it’s unclear how Kane spent more than $ 50 million in career earnings.
More from Yahoo Sports: