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Sharks' Evander Kane Sued for $15M For Allegedly Defrauding Lender

Joseph Zucker@@JosephZuckerFeatured Columnist IVMay 4, 2021

Brandon Magnus/NHLI via Getty Images

San Jose Sharks winger Evander Kane is facing a $15 million lawsuit from a financial lender, according to The Athletic's Daniel Kaplan.

Professional Bank is claiming in court that Kane defrauded the company when he received a $1.5 million loan in 2019 against his seven-year, $49 million contract with the Sharks.

"Kane was in default, including by him revoking the automatic payment that was to occur from the Sharks," Professional Bank's attorneys said in the suit.

Professional Bank is also contending Kane took out loans from multiple banks in such a way he didn't intend to pay back any of the money.

Kane filed for Chapter 7 bankruptcy in January, saying he had assets exceeding $10 million and liabilities approaching $27 million.

Per the Washington Post's Matt Bonesteel, the 29-year-old said he had nearly $16 million in unpaid loans and lost $1.5 million from gambling. He also listed $93,000 in monthly expenses, stemming in part from having his daughter, father, sister, grandmother and two uncles listed as dependents.

In April, a judge ruled Kane's case would remain under the Chapter 7 designation after a creditor wanted it changed to Chapter 11. Kaplan noted that creditors would have the opportunity to take a portion of his future earnings in Chapter 11 bankruptcy.

In addition to his ballooning debt, Kane formally filed for bankruptcy in part due to uncertainty about his availability for the 2020-21 season amid the COVID-19 pandemic. He chose to suit up for San Jose and has posted 45 points (22 goal, 23 assists) in 52 appearances.