Bankruptcy court documents show San Jose Sharks left winger Evander Kane, a former star player with the Langley-based Vancouver Giants, has lost an estimated $1.5 million U.S. on gambling.
A Chapter 7 bankruptcy claim filed on behalf of the 29-year-old in the Northern District of California in San Jose on Jan. 9, under the heading of losses due to “theft, fire, other disaster or gambling,” lists $1.5 million “gambling at casino and via bookie (sports betting).”
No date was given for when the losses occurred.
In the filing, Kane lists assets of $10 million and liabilities of $27 million.
Assets include $8,000 worth of “handguns, shotguns, and rifles” and he has taken out second mortgages on at least two properties in B.C.
Kane reported his monthly expenses are $93,000, including $15,000 for seven listed dependents, his six-month-old daughter, 27-year-old sister, two uncles aged 54 and 59, as well as his 55-year-old mother, 60-year-old father and 77-year-old grandmother.
— Evander Kane (@evanderkane_9) August 7, 2020
Among his debts, Kane lists $1.3 million billed by “Leon McKenzie and Sure Sports LLC” that he is disputing, claiming “unfair trade practice, fraud [and] breach of fiduciary duty.”
Sure Sports online website describes itself as a company that “specializes in low-interest, unsecured loans and contract advances” to professional athletes.
It reportedly negotiated an $8 million loan for Kane.
“Sure Sports offers the fastest, cheapest loans to athletes, and we can complete and fund a loan within 48 hours,” the company website says.
Kane also reported a company doing business as “Lone Shark Holdings” as a creditor.
In April, U.S. media reported the Cosmopolitan hotel in Las Vegas had dropped a lawsuit against Kane for allegedly failing to repay $500,000 in casino markers. Kane reportedly ran up a tab when the Sharks were playing the Golden Knights in Las Vegas during the first round of the Stanley Cup playoffs in 2019.
Kane also owes $256,000 in taxes.
According to the documents, Kane’s annual salary for the 2020/21 season will be $3 million U.S. but notes the beginning of the season is “uncertain” due to COVID-19 and he may make less because of a shortened schedule.
“A typical season includes 82 regular season games,” the statement said.
“The current season has 56 games scheduled and [Kane] understands that even if all scheduled games are played, his salary will be adjusted based upon the reduced number of games.”
It added Kane may terminate his contract and opt out of the season, “because of health concerns given the recent birth of his first child.”
Under a Chapter 7 bankruptcy, creditors are prevented from collecting on debts. Usually, an appointed trustee will sell off a debtor’s assets to pay some, if not all, of what is owed.
Kane had signed a seven-year, $49 million contract extension in 2018.
The 1991-born Kane was drafted 19th overall in the 2006 WHL Bantam Draft by the now-Langley-based Vancouver Giants.
He went on to appear in two Memorial Cup games, tallying an assist as part of the Giants’ 2007 Memorial Cup championship.
Internationally, Kane won gold medals with Team Canada at the 2008 Ivan Hlinka Memorial Tournament and 2009 World Junior Championships.
He also competed in the 2010, 2011, 2012 and 2014 IIHF World Championships.
Kane was the fourth overall pick of the Atlanta Thrashers back in 2009 and has since suited up for the Thrashers, Jets, and Sabres before signing with San Jose.
Kane was heading into his 12th NHL season and his third full season as one of the undisputed offensive leaders of the Sharks.
He surpassed the 20-goal mark in each of his past five NHL seasons and was just 43 points shy of reaching 500 for his NHL career that has spanned 713 regular season games and an additional 29 in the playoffs.
We are proud to announce the formation of the Hockey Diversity Alliance 🏒 ✊🏾 pic.twitter.com/Z5g6BP2b4f
— Evander Kane (@evanderkane_9) June 8, 2020
Last June, Kane co-founded the Hockey Diversity Alliance, a group formed to promote diversity and eradicate racism in hockey.