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Thread: Evander Kane files for bankruptcy

  1. #16
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    Default Re: Evander Kane files for bankruptcy

    Quote Originally Posted by PicklePickle View Post
    I don't understand why you don't play because of bankruptcy
    It would likely be something about how he won't make money over the next few months so he wouldn't technically have any money to collect.

    He's stating COVID and his family as a reason not to play, but I doubt if you have serious concerns over COVID and your family you wouldn't be at training camp right now.

    What's really bad is that the Sharks actually got involved and made his paychecks out to a bank so it would force Kane to pay off debts. They stopped doing that in October 2019, Kane continued to pay until December 2019 and then he just stopped paying the bank. Now the Sharks are getting sued over this because their name is clearly on some contract between the 3 parties.

    I don't know what the end of this lawsuit was but, he was sued for $6mill for not paying a $3mill payment he promised his ex-girlfriend to have her 3rd abortion. The 1st abortion was agreed on mutually but the 2nd and 3rd one was forced by Kane.
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  2. #17
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    Default Re: Evander Kane files for bankruptcy

    Hopefully @LawMan can give his thoughts on this one.

    If I were to guess.. there is no chance that Evander Kane would stop wanting to earn his millions of dollars.
    But... if his earnings go straight to others (his debtors)... and if he's still in debt...
    Then it seems he's "working" without any actual income.

    To claim bankruptcy, I'd think he'd have to have no income, which means he has to terminate his contract.
    Currently, I believe, he doesn't have income until start of NHL season.
    Evander Kane's income starts tomorrow - the first day of the formal NHL season. (#Timing of This)
    IIRC, players get paid only during the formal NHL season - so Kane would have to declare bankruptcy today... and then not have income (i.e. terminating contract).

    This "termination of contract" to cease income - I would think - would be better than playing hockey and having that income go straight to his debtors.
    It also - possibly - either hooks the Sharks for the debt or releases the Sharks from the debt associations.

    Either way - the termination of contract might allow Evander to chillax with NO INCOME rather than work and have NO INCOME.
    Yes?


    ...waiting on the Lawman!

  3. #18
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    Default Re: Evander Kane files for bankruptcy

    Quote Originally Posted by Pengwin7 View Post
    Hopefully @LawMan can give his thoughts on this one.

    If I were to guess.. there is no chance that Evander Kane would stop wanting to earn his millions of dollars.
    But... if his earnings go straight to others (his debtors)... and if he's still in debt...
    Then it seems he's "working" without any actual income.

    To claim bankruptcy, I'd think he'd have to have no income, which means he has to terminate his contract.
    Currently, I believe, he doesn't have income until start of NHL season.
    Evander Kane's income starts tomorrow - the first day of the formal NHL season. (#Timing of This)
    IIRC, players get paid only during the formal NHL season - so Kane would have to declare bankruptcy today... and then not have income (i.e. terminating contract).

    This "termination of contract" to cease income - I would think - would be better than playing hockey and having that income go straight to his debtors.
    It also - possibly - either hooks the Sharks for the debt or releases the Sharks from the debt associations.

    Either way - the termination of contract might allow Evander to chillax with NO INCOME rather than work and have NO INCOME.
    Yes?


    ...waiting on the Lawman!
    That's what I kinda of pieced together with the tweets from yesterday. He's making -$91,000/month right now. He would have got his $3,000,000 signing bonus already and his salary this yr is $3,000,000 based on an 82game schedule. California taxes, agent fees, and what not would it be really a stretch to say his income is actually $1,000,000? So $1,000,000 in a per month of playing is roughly $140,000 if I have the mental math right. With all his debts, and legal issues in the air that +$30,000 might be detrimental to his overall income

    COVID is an easy excuse out of his contract without having some legal issue about purposely voiding his income to get out of his debt?
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  4. #19
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    Default Re: Evander Kane files for bankruptcy

    I am no lawyer but the bankruptcy filings sound like a pie in the sky attempt to get out of the debt that he accumulated. The filing says he has no income and that he can opt of his contract this year due to Covid-19. That is no longer true as the opt out deadline has come and gone and he did not opt out. I think Kane is getting bad financial advice for "professionals" who are just trying to get more of his money.

    According to what I have read, he has over $10,000,000 in assets (mostly real estate) but has debt of $26,800,000. With $29,000,000 in guaranteed gross income expected over the next 5 years, I can't see him getting out of this debt this easily.

  5. #20
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    Default Re: Evander Kane files for bankruptcy

    As a casual observer - he appears to be a bit of scumbag who has sought the counsel of other scumbags.
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  6. #21
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    Default Re: Evander Kane files for bankruptcy

    Any Evander Kane fantasy owners want to start a Go Fund Me Page so that he can play hockey this year and not hurt our fantasy teams.

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    Default Re: Evander Kane files for bankruptcy

    Quote Originally Posted by PenguinHunter View Post
    Any Evander Kane fantasy owners want to start a Go Fund Me Page so that he can play hockey this year and not hurt our fantasy teams.
    I kept him in one league and drafted him in the 4th rd in another. I hear you man. I think its all BS he's trying to take the heat off.

    From 31 Thoughts today...

    It’s a fluid situation and may develop over time, but neither the NHL nor the NHLPA was aware Monday night of any plans for Evander Kane to not play this season.
    The Players’ Association in particular would play a significant role in any termination conversation, with five seasons and $29 million remaining on Kane’s contract. One lawyer suggested last night that Kane’s remaining salary may not allow liquidation, but this is out of my expertise.
    From Sheng Peng on Twitter...

    Boughner says he's "assured" that Kane will play the entire season
    EDIT: Lets hope he plays pissed off and racks up the points and periphs!!
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  8. #23
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    Default Re: Evander Kane files for bankruptcy

    This would be the ideal moment to swoop in and steal him at a discount from a risk-averse owner.

  9. #24
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    Default Re: Evander Kane files for bankruptcy

    A guy who goes Chapter 7, is in debt $27 M and has an employment contract for $7 M per annum will not be allowed by the court and his creditors to "opt out" of any money-earning endeavor.

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    Default Re: Evander Kane files for bankruptcy

    Good. Based on how he presents himself to the public, the guy always was and always will be a jerk off.

    Meanwhile Ryan Reaves is sitting in a nice condo in Vegas in a silk robe and slippers toasting to the good life. Ha! Sorry Evander.

  11. #26
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    Default Re: Evander Kane files for bankruptcy

    Quote Originally Posted by tweetdrivr View Post
    Lets hope he plays pissed off and racks up the points and periphs!!
    I'm sure no one would chirp the classy Kane about a crappy situation he put himself in...lol!! Oh the ironing is delicious!
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    Default Re: Evander Kane files for bankruptcy

    Quote Originally Posted by The Comish View Post
    I'm sure no one would chirp the classy Kane about a crappy situation he put himself in...lol!! Oh the ironing is delicious!
    The ironing? Irony? Don't eat clothes!
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  13. #28
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    Default Re: Evander Kane files for bankruptcy

    Quote Originally Posted by tweetdrivr View Post
    The ironing? Irony? Don't eat clothes!
    I love purposely misquoting sayings. That one is one of my favs!! Mmm, the ironing IS delicious!
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  14. #29
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    Default Re: Evander Kane files for bankruptcy

    Not surprising at all.

    I know a number of people who got into debt due to wasting money, and then wanted to do bankruptcy to clean it all up. One of them was stiffing (soon to be former) friends on loans of $500-$1000 for medical emergencies, but kept an expensive home in bankruptcy, and defaulted on the friends, who actually had written loan documents.

    The cash stacks pushups told me all needed to know about his motivations.
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  15. #30
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    Default Re: Evander Kane files for bankruptcy

    Coach Boughner says he’s playing no question.
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