GM Wilson says team is committed to Kane’s contract
General manager Doug Wilson said the Sharks are committed to fulfilling their contract with Evander Kane, adding that he hasn’t had any conversations with Kane or his legal team that would indicate the veteran forward is looking to void the remainder of the seven-year, $49 million deal he signed in May 2018.
A U.S. Bankruptcy Judge earlier this week approved a stipulation filed by Kane’s lawyers and the Sharks to extend a deadline by 90 days into June for Kane to assume or reject the contract.
The term “reject” led to speculation that
Kane was perhaps looking to deprive creditors of their means to recoup money owed to them, and that the Sharks may want to shed one of the biggest salaries on their payroll. A Sharks spokesman said earlier this week, though, that the team wanted to give Kane more time to figure out his financial affairs, not to have the contract voided.
Efforts by the newspaper to reach Kane’s lawyers Friday afternoon for comment on whether Kane is committed to playing on his contract beyond this season were unsuccessful.
Kane in January filed for Chapter 7 bankruptcy, listing assets totaling just over $10.2 million and his liabilities at over $26.8 million. The decision by Judge Stephen L. Johnson in the Northern District of California this week gives Kane more time to decide how he is going to handle his bankruptcy.
Kane is in the third year of his deal. Over the next four seasons, according to contract details on CapFriendly, Kane is due to make $26 million in salary, including bonuses. He has a salary of $3 million for this season.
Wilson told reporters Friday that Kane, “has counsel that represents him in those specific areas. We are committed to Evander. I’ve not had any discussions with him or his counsel pertaining to his contract.”
Recently, a major creditor, Zions Bancorporation, filed a motion requesting the bankruptcy be converted to Chapter 11, which would make the money that is still owed to Kane available to creditors.
In his decision, Johnson wrote, “This order is not a determination that the Contract is an executory contract governed by Bankruptcy Code Section 365, nor that an assumption of the Contract is required under the Bankruptcy Code for Kane and (San Jose Sharks) to continue to comply with the Contract.”
Kane has appeared in all 23 Sharks games this season and is second on the team with 20 points, one behind linemate Logan Couture.
Wilson said Kane is receiving guidance as he works his way through these matters.
“On his personal issues, he has legal counsel and they represent him in that area, and we are committed to Evander,” Wilson said. “Evander is playing well, he’s playing hard. That line, him and Logan (Couture), have great chemistry. Unfortunately, everybody in life has things they deal with outside of their work or their game or whatever. But he is getting guidance and support in the areas that he needs.”