San Jose Sharks forward Evander Kane has filed for Chapter 7 bankruptcy in the Northern District of California, according to multiple reports.
The 29-year-old lists assets of about $10 million, mostly in real estate, and liabilities of almost $27 million.
As part of last week's filing, Kane says that he might not even play this season, eliminating his income.
"Debtor may terminate his contract and he may opt out of the season, as allowed under current rules, because of health concerns given the recent birth of his first child," his bankruptcy petition said. "Should he terminate his contract or opt out at a point in the season, Debtor will not receive his salary."
The deadline to opt out was Dec. 24, and Kane has been with the Sharks in training camp. Their season starts Thursday at Arizona.
On Tuesday, Sharks coach Bob Boughner said that his understanding is that Kane will play.
"I don't think we're worried about a distraction," Boughner said, according to the Mercury News. "I won't make a comment on any player's personal situation, but I am assured that he will be here for the whole season and that he's on board."
According to the petition, Kane claims $1.5 million in gambling losses in the past 12 months and says he has seven dependents living with him.
Kane is in the third year of a seven-year, $49 million contract. He had 26 goals and 21 assists in 64 games last season. He led the Sharks with 122 penalty minutes.
