A star forward in the National Hockey League filed for bankruptcy earlier this week and gambling debts were a contributor to his recent financial problems.
Evander Kane, who signed a seven-year $49 million contract in 2018, filed for Chapter 7 bankruptcy in a California court. The left winger for the San Jose Sharks cited $26.8 million worth of debt, according to the filing.
The filing stated that in the last 12 months alone, the Canadian has lost $1.5 million gambling at various casinos. In November 2019, Kane was facing a lawsuit from the Cosmopolitan Las Vegas after the casino claimed that Kane owed $500,000 in unpaid gambling markers.
The lawsuit alleged that Kane took out eight markers between $20,000 and $100,000 around April 15. The Sharks were in Las Vegas around that date for games 3 and 4 of the first round of the Stanley Cup Playoffs against the Vegas Golden Knights.
The lawsuit was eventually dropped by the Strip casino in April 2020, but it is unknown if a settlement was made out of court. Clearly, Kane’s gambling didn’t stop there.
According to a report from The Athletic, Kane may opt out of the upcoming season due to health concerns surrounding the pandemic and the recent birth of his son, which “paints a grim picture for his creditors of his earnings this year.”
The filing lists nine lawsuits, court actions and other proceedings with lenders seeking repayment. The largest was with Centennial Bank, which sued Kane last week for $8.3 million. Despite his $7 million per year salary, Kane lists his monthly income as a -$91,131.13.