The San Jose Sharks are set to play their NHL season-opener on Thursday but it remains unclear if star forward Evander Kane will join the team after multiple reports revealed that he filed for Chapter 7 bankruptcy with $26.8 million in debt earlier this month.
The Athletic first reported the news on Tuesday, citing the complaint filed in California that listed over $10 million in assets — primarily in real estate — and almost $27 million in liabilities.
The complaint notes that Kane might opt out of the season, despite missing the league’s December deadline, because of health concerns, eliminating his income.
“Debtor may terminate his contract and he may opt out of the season, as allowed under current rules, because of health concerns given the recent birth of his first child,” the petition read. “Should he terminate his contract or opt out at a point in the season, Debtor will not receive his salary.”
Kane, 29, has reportedly earned $52.9 million throughout his 11-year career. Most recently he signed a seven-year, $49 million contract with the Sharks in 2018. It’s unclear from the filing where the debt stems from but in the filing Kane listed nine lawsuits and 47 creditors and claims that he has seven dependents.
He also had $1.5 million in gambling losses in the past year.