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Originally Posted by Monahammer
Is there precedent for a club/player agreeing to void a contract like kane's? Seems very strange...
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There have been numerous examples of players and teams mutually agreeing to terminate contracts. The key is that both parties have to agree to terminate the contract.
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Originally Posted by Hockey-and_stuff
How does that affect his next deal if this one is voided?
I know zilch about bankruptcy. Will voiding this contract stop the Sharks from signing him again?
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I don't think there is anything in the CBA that expressly forbids them from signing Kane again after terminating the contract. However one could make the case that by voiding the contract and then signing him again the Sharks are re-negotiating Kane's contract which is not allowed per the CBA. Depends on how the NHL and NHLPA will want to interpret and enforce the clause but I would bet on them not allowing it because it sets a precedent for other teams and players to renegotiate contracts.
That being said this is more than likely a negotiating tactic for settling the debts. Kane's lawyers are threatening to take away the main source for the creditors to recoup their money and trying to get them to take pennies on the dollars for what they are owed.