Evander Kane files for bankruptcy despite 49 million dollar contract

San Jose Sharks' Evander Kane

San Jose Sharks head coach Bob Boughner said Tuesday that Evander Kane will play the 2020-21 season following a report that Kane was considering skipping the campaign due to a bankruptcy filing and the birth of his child amid the COVID-19 pandemic.

Kane claims $1.5 million in gambling losses in the past 12 months and says he has seven dependents living with him, according to The Athletic's Daniel Kaplan.

According to capfriendly, the 29-year-old has earned $52.9 million in team pay throughout his 11-year career.

On the filing, Kane listed liabilities at $26.8 million with assets of $10.2 million.

Kane and The Cosmopolitan settled a lawsuit in April of past year after the Las Vegas casino alleged he failed to pay back $500,000 in gambling markers, according to a report by Mick Akers in the Las Vegas Review Journal. However, the Sharks' opt out date was December 24, and Kane has been participating in training camp.

"A typical season includes 82 regular season games". And the filing included a note that warns he may not even play this year. "Moreover, Debtor understands that under the current collective bargaining agreement between the players" union and the owners, 20% of his salary will be withheld and will be released to the owners under the "profit sharing' structure of the agreement due to the anticipated significant reduction in revenues across the league". Elliotte Friedman touched on this in his latest 31 Thoughts column.

"I don't think we're anxious about a distraction", Boughner told reporters, according to Dalton Johnson of NBC Sports.



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