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Evander Kane files for Bankruptcy

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The possibility that Kane might terminate his contract is brutal for the Sharks.  Kane still has 4 more years remaining on his contract.

 

He is a huge part of their top 6.  I wonder if their pick up of Balcers indicates that Kane really might terminate his contract.  Not saying Balcers is an adequate replacement for Kane, more that they will need a full roster so if Kane really might terminate, then picking up a player off waivers (especially one that they drafted before and are familiar with) makes sense as a quick stop gap measure.

 

I'm not sure what the remedies are for Kane if he terminates his contract after now having filed for bankruptcy.  I wonder when, or even if, he can sign another contract while he's still in his prime?

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I remember when there was talk Vancouver were very interested in Kane? I am so so glad Vancouver management never traded for him..

The chemistry with his personality would not be good...I guess he will challenge that guy for boxing match now to help his finances.

So hard to feel sorry for guy like Kane..Big personality would not admit he has a gambling problem making over 5 million Dollars for years...

 

Glad Kane is not a Canuck... You fans that complain about Jake wake up...

Jake Virtanen, 24, 6'1, 210lbs will be good this year, you will see him use his speed and size to cause havoc..

GP 56 - G 18 -- A 20 --PTS 38 

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Jeez... I think the guy is a dumbass but don't wish this on him either.  It outlines how good "most" NHLers are as people for this not to happen often.

The NHL and reputable agents give financial literacy courses to new players but there is no way to really protect someone against their own bad decisions.  $50 million should take care of you and your grandchildren in a really comfortable lifestyle.

On the other side, it is good for all the players to have an occasional example of how badly things can go if they decide not to be smart about things.  

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4 hours ago, Monty said:

$35M before tax.

 

Kane put a quarter in his ass, because he played himself.

 

9 hours ago, nuckin_futz said:

Yeah but his creditors would gladly take 30 or 50 cents on the dollar as opposed to zero.

 

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1 hour ago, wildcam said:

I remember when there was talk Vancouver were very interested in Kane? 

I was a fan who stressed we didn't want him. He obviously has good physical tools, but his ego and bad decision making always catch up with him. The team already needs to spend an inordinate amount of time trying to keep Jake on track.

 

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17 hours ago, Shekky said:

wow I've always said if there is one thing that needs to be taught in high school is finance course just to give kids an idea of how to save money and invest.

Highly doubt that would have made any difference 

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What a loser... he's probably the biggest shame out of BC.... I don't know why ppl have so much more hate on Lucic..... E. Kane was flaunting with this big bills and lifestyle in Vegas.... AND was always in the news for the wrong reasons.... that's not how a good humble Canadian NHL player gets brought up... anyways, wishing him lots of fun getting chased by creditors!!! I don't know how collections work.. but do the creditors now place claims on his homes and cars?? Did he EVER do any local charity work for us... just curious!

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30 minutes ago, Virtanen#18 said:

What a loser... he's probably the biggest shame out of BC.... I don't know why ppl have so much more hate on Lucic..... E. Kane was flaunting with this big bills and lifestyle in Vegas.... AND was always in the news for the wrong reasons.... that's not how a good humble Canadian NHL player gets brought up... anyways, wishing him lots of fun getting chased by creditors!!! I don't know how collections work.. but do the creditors now place claims on his homes and cars?? Did he EVER do any local charity work for us... just curious!

If you can't make your payments, after a while it goes to collections. Unless you make a payment arrangement, or talk to a trustee. I know the dollars are high.

But it doesn't take much to get things out of control. Doesn't help a lot of banks and casinos will keep extending you credit until you have difficulties paying. 

He might also want to seek help if he has a gambling issue.

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2 hours ago, EternalCanuckFan said:

The possibility that Kane might terminate his contract is brutal for the Sharks.  Kane still has 4 more years remaining on his contract.

 

He is a huge part of their top 6.  I wonder if their pick up of Balcers indicates that Kane really might terminate his contract.  Not saying Balcers is an adequate replacement for Kane, more that they will need a full roster so if Kane really might terminate, then picking up a player off waivers (especially one that they drafted before and are familiar with) makes sense as a quick stop gap measure.

 

I'm not sure what the remedies are for Kane if he terminates his contract after now having filed for bankruptcy.  I wonder when, or even if, he can sign another contract while he's still in his prime?

 

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21 hours ago, Squamfan said:

you don't need a class just don't spend it on dumb stuff like diamond teeth. normal people don't do that they they go through the same schooling.

Normal people don't earn millions of dollars by their early-20s.

 

Professional star athletes don't have as much time as we normal folks do to learn how to manage personal wealth when they're focused on training, practicing and playing almost everyday. 

 

Not making excuses for Kane, but that's his not "normal" reality and is probably a major contributing factor to his financial troubles. 

Edited by KoreanHockeyFan
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5 hours ago, Virtanen#18 said:

What a loser... he's probably the biggest shame out of BC.... I don't know why ppl have so much more hate on Lucic..... E. Kane was flaunting with this big bills and lifestyle in Vegas.... AND was always in the news for the wrong reasons.... that's not how a good humble Canadian NHL player gets brought up... anyways, wishing him lots of fun getting chased by creditors!!! I don't know how collections work.. but do the creditors now place claims on his homes and cars?? Did he EVER do any local charity work for us... just curious!

Kelly Sutherland is from Richmond.

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I don't understand. He owes money and is filing for bankruptcy yet he might not play for health concerns for his family? What about financial concerns? Maybe I'm old school but if I have that much debt, I am hauling my butt to work.

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On 1/11/2021 at 5:38 PM, Phil_314 said:

Yikes... not to mention how state and Federal tax in California amounts to around 50% of his gross salary... so each year he brings home around $3.4 million... then he's got this albatross in his personal life to deal with...

Plus the escrow this year.  He's probably mid 2s at this point.

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16 hours ago, Rob_Zepp said:

The only thing I find annoying about NBA is the political overtones that comes with it.   All that money doesn't make you smarter and more stupid things, and quite hypocritical too boot, come out of your average NBA player than any 10 NHL players.    Their use of hyperbole and masquerading as offended social justice warriors whilst AVERAGING most families lifetime earnings in a few months.    Using their very influential platforms for balance and rejection of "gansta" lifestyles etc. would provide back to society more than just the entertainment of watching tall dudes in shorts playing ball.   NFL has some beauties too in that regard (actual criminals) but their career spans and paydays are not as impressive...on average.    

I am not sure what you mean by this exactly but if it means how engaged NBA players are politically. Let's put it this way a lot of NBA stars stepped up in speaking out against racism and supported the BLM movement. And they also helped with the infrastructure in making more people go out and vote. This resulted in one of the highest voting turn outs in US election history. Regardless what side of the political side you are, having more people engaged in the election process is a good thing and the influence of NBA players was instrumental in this. 

 

Now there are things I am not a fan of in the NBA. Like players having too much leverage over the teams, but I don't think it should be like the NFL either where it's the other way around. I think there should be more balance. And I was also disappointed how the NBA (players, execs, team, and the league) responded to the whole Hong Kong / China situation and it made them look hypocritical. 

 

But there's no denying the positive impact they have within the community especially for disenfranchised minorities in the United States.

 

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