Sharks forward Evander Kane filed for Chapter 7 bankruptcy Saturday, according to a petition in federal bankruptcy court in San Jose, California, acquired by The Athletic.
According to the filing obtained by The Athletic, Kane is nearly $27 million in debt and faces six active lawsuits, court actions and administrative proceedings with lending agencies.
The 29-year-old Kane signed a seven-year, $49 million deal with the Sharks two years ago. The filing noted that Kane may not play this season “because of health concerns given the recent birth of his first child.” However, the Sharks’ opt out date was Dec. 24, and Kane has been participating in training camp. San Jose would be able to carry over the contract until the next season.
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According to capfriendly.com, Kane has made nearly $53 million in his career. On the filing, Kane listed liabilities at $26.8 million with assets of $10.2 million. While The Athletic notes that the sources of Kane’s losses are not clear, the petition indicates that he has lost $1.5 million in gambling over the last year. The Cosmopolitan of Las Vegas also settled a lawsuit against Kane for unpaid gambling bills last year.
In his home, Kane lists seven dependents living with him, including a 6-month-old daughter, 27-year-old sister, mother, father, two uncles and his grandmother.
In the filing, Kane said that a shortened 56-game season would make paying off his debts difficult. A total of 47 creditors were listed on the filing.
Kane was the No. 4 pick in the 2009 NHL draft and has spent 11 seasons in the league with three different teams. He is also a co-head on the Hockey Diversity Alliance, which aims to “eradicate systemic racism and intolerance in hockey,” according to its website.
Messages made from USA TODAY Sports to the Sharks regarding Kane’s status for the upcoming season were not immediately returned.