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[Hunter368]

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[ps241]

Man I wish we would have been in the running for Nate Schmidt. Just watched him being interviewed on TSN and he is a beauty.

 

[snowkiddin]

Man I wish we would have been in the running for Nate Schmidt. Just watched him being interviewed on TSN and he is a beauty.

At least we can take solace in the fact that Vegas had to give him up for pretty much nothing due to short-sightedness of their management.

 

[puck stoppa]

Anyone see the Kane news?
Bankrupt.
Can’t make this stuff up.

 

[Guerzy]

Anyone see the Kane news?
Bankrupt.
Can’t make this stuff up.

Not surprised at all, but holy shit...

 

[Teemusalami204]

Anyone see the Kane news?
Bankrupt.
Can’t make this stuff up.

Rappers claim bankruptcy to not pay child support all the time. It doesn’t mean he’s broke it just means he doesn’t have to pay any of his debts back and starts fresh. It’s a scammers way out

 

[surixon]

Anyone see the Kane news?
Bankrupt.
Can’t make this stuff up.

Here is some more info on it:

Just wow some people have no co cent on how to manage money and live within their means.

https://twitter.com/PuckReportNHL?ref_src=twsrc^tfw|twcamp^tweetembed|twterm^1348796831619231744|twgr^|twcon^s1_&ref_url=

He's loosing $91 k a month. That is absolutely nuts!

 

[AlphaLackey]

Rappers claim bankruptcy to not pay child support all the time. It doesn’t mean he’s broke it just means he doesn’t have to pay any of his debts back and starts fresh. It’s a scammers way out

Among other debts (1.5 million gambling, 1.88 million from countersuit from 2016 assault case) is a series of significant business loans (now up to 8.3 with juice) with Chase bank that he used his salary to secure the loan with. The Sharks were obligated to make loan payments directly; they simply stopped doing so in October and Kane stopped paying on his own this December.

His way out may not be so simple.

I'll look more into it when I manage to stop laughing.

 

[surixon]

Among other debts (1.5 million gambling, 1.88 million from countersuit from 2016 assault case) is a series of significant business loans (now up to 8.3 with juice) with Chase bank that he used his salary to secure the loan with. The Sharks were obligated to make loan payments directly; they simply stopped doing so in October and Kane stopped paying on his own this December.

His way out may not be so simple.

I'll look more into it when I manage to stop laughing.

Yup he is apparently loosing 91k a month. That is nuts when factoring his $7 million salary. His interest payments are probably astronomical.

 

[AlphaLackey]

Any wrestling fans out there the time when Bobby Heenan and Tony Schiavone commented on a WCW match featuring Jim Duggan and at the beginning, Schiavone mentioned that Jim Duggan "was a very intelligent man"? Bobby Heenan's basically repping my energy right about now

 

[bustamente]

Like to say I'm surprised about E Kane but I'm not

 

[AlphaLackey]

Like to say I'm surprised about E Kane but I'm not

I can't believe he only owes 1.5 million in gambling debt!

 

[Guardian17]

 

[brendan smith]

So is he still playing for the SJ Sharks this year? Or have them sent him to the loan Sharks?

 

[bustamente]

I can't believe he only owes 1.5 million in gambling debt!

So a trade to Vegas it is

 

[HannuJ]

the more i think about it, the more unfortunate it is.
not sure how one can get to the point in life where their salary in one month is negative $90000. he claims he is losing more in one month than most of us make in a year.

now, filing for bankruptcy is a move to ward off creditors. one assumes his house has value and if he owns it outright, which i assume he does since the bank's not foreclosing, then yeah, bankruptcy may be a move to allow him to get his fiscal house in order w/o having to leave his family homeless

 

[Hunter368]

Nothing surprises me about this guy anymore, decent player but a total jackass as a person.

 

[rubikscube]

Crocodile tears from me.

Made his bed with horrible decision after horrible decision. Live with your decisions.

 

[brendan smith]

the more i think about it, the more unfortunate it is.
not sure how one can get to the point in life where their salary in one month is negative $90000. he claims he is losing more in one month than most of us make in a year.


now, filing for bankruptcy is a move to ward off creditors. one assumes his house has value and if he owns it outright, which i assume he does since the bank's not foreclosing, then yeah, bankruptcy may be a move to allow him to get his fiscal house in order w/o having to leave his family homeless

I typically have the utmost sympathy for individuals suffering from financial hardship (and potential addictions), but not this guy... sorry...

 

[AlphaLackey]

"Baaaankrupt Shark, do-doot doo-doo doo-doo,
Bankrupt Shark, do-doot doo-doo doo-doo,
Bankrupt Shark, do-doot doo-doo doo-doo,
WORSE than broke.

Lost six lawsuits, doot doo-doo doo-doo,
Lost six lawsuits, doot doo-doo doo-doo,
Lost six lawsuits, doot doo-doo doo-doo,
What a schmuck.

Up the creek, do-doot doo-doo doo-doo,
Up the creek, do-doot doo-doo doo-doo,
Up the creek, do-doot doo-doo doo-doo,
Boy, he's f***ed.

Sucks at blackjack, doot doo-doo doo-doo,
Sucks at blackjack, doot doo-doo doo-doo,
Sucks at blackjack, doot doo-doo doo-doo;
Poker too."

 

[BigZ65]

I can't believe he only owes 1.5 million in gambling debt!

I think that's what he owes directly to a casino as of today. Looks like he's covered a lot of stuff with lines of credit and fair to assume there's some blackjack losses in there.

Can't believe the number of lawsuits he's involved with more than anything.

Guy could have dropped $1 million a year into a hedgefund and doubled that amount over the last 10 years....$20 million right there.

 

[BigZ65]

Rappers claim bankruptcy to not pay child support all the time. It doesn’t mean he’s broke it just means he doesn’t have to pay any of his debts back and starts fresh. It’s a scammers way out

Except E Kane has no income prospects outside of playing a sport that he's probably on his last big contract to play. At least entertainers have residual rights to music they've created etc. He's going to be effectively homeless after this bankruptcy and probably have hand over most of his remaining income as a hockey player to settle these debts.

 

[Buffdog]

He's a dirt bag IMHO but I'll never cheer another's misfortunes, regardless of whether or not they brought it on themselves.

 

[Eyeseeing]

Wow
Not judging just shocked

 

[surixon]

the more i think about it, the more unfortunate it is.
not sure how one can get to the point in life where their salary in one month is negative $90000. he claims he is losing more in one month than most of us make in a year.

now, filing for bankruptcy is a move to ward off creditors. one assumes his house has value and if he owns it outright, which i assume he does since the bank's not foreclosing, then yeah, bankruptcy may be a move to allow him to get his fiscal house in order w/o having to leave his family homeless

I think chapter 7 means all his assets go into a trust and likely are liquidated to pay off the creditors. He will likely be allowed to keep some of his assets and probably one of his properties. His wages are likely going to be heavily garnished going forward.

I think Jack Johnson is probably an apt comparison to how this will play out for him:

He has liquidated two homes and a luxury car and will only keep a negotiated sum of money from his earnings for living expenses. The total is reportedly $246,000 each of the next two seasons.

Report: Jack Johnson reaches bankruptcy settlement - Sportsnet.ca.