Kane, Sharks being sued over unpaid loan.

[kingpest19]

Kane, Sharks Sued by Centennial Bank

Apparently Kane got several loans secured against his contract and payments haven't been made since December 2019. Payments were supposed to be made by direct deposit by the Sharks, which stopped in October 2019, and Kane defaulted on the loan by missing a payment in December 2019 and hasn't made a payment since.

The bank is suing for $8.3 million in outstanding principal, interest and bank fees and wants a judgement that obligates the Sharks to continue direct deposits until the loan is paid in full and prohibits Kane from interfering with payments.

Click to read more...

 

[PatriceBergeronFan]

He must have needed that loan to hold stacks of cash for his picture.

 

[Dipsy Doodle]

"Hello, Centennial Bank? I'm sorry, I just don't have the funds right now."

 

[Three On Zero]

Are you from the future? Missed a payment in 2919?!?!?!? what's the interest rate on that loan

 

[Tasteless Beaver]

Adding to the lawsuit alleging Kane didn't pay his gambling float in Vegas, this guy seems to be really bad with money. Gambling problem?

 

[DJJones]

Honestly that sounds like the Sharks fault more than Kane's. Why would they guarantee it but then back out? What did they think was going to happen.

On another note, I hope Kane did something smart with those loans. Like what's his take home? Maybe 40% of his salary? So 2.4M - 3.2M (he has a weird contract). Paying 600k in interest and fees is a huge part of that.

The fact that he wants the Sharks to pay the bank instead of him doesn't give me confidence that his investments are cashflow positive.

 

[Hockeyfan2390]

Couldn't have happened to a nicer guy.

 

[Schenn]

What are the odds he spent all that money in December 2019 on Bitcoin & Tesla stock?

 

[Fatass]

Adding to the lawsuit alleging Kane didn't pay his gambling float in Vegas, this guy seems to be really bad with money. Gambling problem?

Is Kane going to be one of those athletes who is destitute within 3 years of retiring from the game?

 

[Captain Bowie]

Not sure why a players private life such as financial ongoing are made public or anyone else's business. It's not like he's doing anything wrong or dangerous that the public needs to know about.

 

[Sheppy]

Guy is a clown.

I guess putting in work to try to get that boxing match makes a bit of sense now.

 

[DJJones]

Not sure why a players private life such as financial ongoing are made public or anyone else's business. It's not like he's doing anything wrong or dangerous that the public needs to know about.

An NHL team is getting sued for not paying a loan. Seems relevant.

 

[Mr Fahrenheit]

What are the odds he spent all that money in December 2019 on Bitcoin & Tesla stock?

f***, he would be so loaded if he did. Assuming he never sold

 

[Captain Bowie]

An NHL team is getting sued for not paying a loan. Seems relevant.

To who? We don't hear about most of the financial ongoings of NHL teams or their owners. But now that a somewhat controversial player is involved it's news?

 

[violaswallet]

This is an odd relationship with the Sharks: secured loans aren’t too bizarre in the markets but I’m surprised that a bank asked for a direct payment from the Sharks as it implies a non trivial default risk by Kane. I don’t understand the Sharks stopped payments in 2019 and broke the agreement

There is some history of financial challenges:
Las Vegas casino sues NHL’s Evander Kane over $500K in gambling markers

As an old Thrashers fan, I hope Kane gets financial help from a dispassionate financial advisor.

 

[Breakers]

This guy screams bankruptcy. He has been sued by a casino, a bank, and a car dealer in Vancouver.

he has a place in a building a relative lives in in Vancouver and he has 2 or 3 high end vehicles in Vancouver that just sit there as he is only there for a couple months.

 

[Avsboy]

 

[DJJones]

To who? We don't hear about most of the financial ongoings of NHL teams or their owners. But now that a somewhat controversial player is involved it's news?

Sure we do, hell it was news that the Calgary foundation (charity) wasn't spending money fast enough last year haha. Melnyk is always in the news, Covid pay cuts, taxes, arena financing, valuations, ect.

Media is constantly talking about the financials of the league.

 

[Fatass]

Not sure why a players private life such as financial ongoing are made public or anyone else's business. It's not like he's doing anything wrong or dangerous that the public needs to know about.

His enormous salary is directly linked to him working in the entertainment business, right? He’s kind of in a catch 22, no? He’s not getting the big money to waste, without being in the public eye. Kind of a double edged sword. Yes, he can spend his money as he enjoys, but we will comment on him because he’s a public figure, right? Why are you in this thread (HF) if not because you follow the entertainment of the National League? It’s entertainment, which is why we are here, right?

 

[hohosaregood]

SJ confirmed worst ran organization in the NHL

 

[Fatass]

Sure we do, hell it was news that the Calgary foundation (charity) wasn't spending money fast enough last year haha. Melnyk is always in the news, Covid pay cuts, taxes, arena financing, valuations, ect.

Media is constantly talking about the financials of the league.

The Coyotes’ financial issues are often in the news too.

 

[tucker3434]

That sounds like a large scale payday loan. Odd. Also seems like a great way to end up broke before you’re even done playing.

 

[kingpest19]

Are you from the future? Missed a payment in 2919?!?!?!? what's the interest rate on that loan

Fat fingers on a small phone

 

[Captain Bowie]

His enormous salary is directly linked to him working in the entertainment business, right? He’s kind of in a catch 22, no? He’s not getting the big money to waste, without being in the public eye. Kind of a double edged sword. Yes, he can spend his money as he enjoys, but we will comment on him because he’s a public figure, right? Why are you in this thread (HF) if not because you follow the entertainment of the National League? It’s entertainment, which is why we are here, right?

I'm here because I enjoy hockey. Not the personal lives of those that play it. Not concerned with the financial matters of the actors of my favorite shows or the members of my favorite bands either.

 

[Captain Bowie]

Sure we do, hell it was news that the Calgary foundation (charity) wasn't spending money fast enough last year haha. Melnyk is always in the news, Covid pay cuts, taxes, arena financing, valuations, ect.

Media is constantly talking about the financials of the league.

This isn't "the league". The financial viability of one player has no impact on the financial viability of the league thus no impact on us as fans.