Evander Kane sued for 500k in gambling debts

[Geeoff]

I think there's a lot of signs Kane has addiction issues. Hopefully, if he does, the NHL gets him the help he needs

[Snuffleupagus]

Originally Posted by Robbob

According to google, NHL players get 13 pay cheques over the course of the season (Oct to April). His 6M pre-tax would be around 460k. Easily cut that in half for escrow, agents, and taxes and it is probably closer to 200k. So yeah, that 500k debt is pretty substantial and more than he could pay with one paycheque.

If this was done in April, he would not have had any pay coming in until July for his signing bonus.

If Evander Kane who's made $48 million needs paychecks to pay off a 500k loan he needs some serious help.

[Weitz]

Originally Posted by Snuffleupagus

If Evander Kane who's made $48 million needs paychecks to pay off a 500k loan he needs some serious help.

Wouldn't be the first and certainly wouldn't be the last professional athlete to have money issues.

[ditty]

Originally Posted by Erick Estrada

The NHL and NHLPA have programs to help players manage their money to ensure they are keeping an eye on retirement but you are always going to have a percentage of people that live day to day and make bad financial decisions.

Exactly. If Kane has a gambling problem, what's driving it is not going to be cured by education on financial management. Rather, there's an addictive instinct driving his behaviour that is not really impacted by logic.

[Snuffleupagus]

Originally Posted by Weitz

Wouldn't be the first and certainly wouldn't be the last professional athlete to have money issues.

How many go broke while they're still earning $7 million a year though?

[CroFlames]

Originally Posted by yourbestfriend

To the people saying that the league or the team needs to get involved, how happy would you be if your employer was poking its nose into your own person legal proceedings?

From a league point of view, they should only be involved if he was betting on hockey (or other stuff outlined by the CBA). If it's only debt from casino gambling, this is between the casino and Kane, nobody else.

Your first sentence is not a relevant comparison. The public is not betting on my employers business outcomes.

If (big if) Kane is involved in any type of high stakes gambling, the potential exists that people threaten him to manipulate outcomes in NHL games. This, of course, is a massive problem for the NHL even if the player himself is not betting on hockey.

If a guy is 500k in the hole, there is a chance there are people coming after him so the NHL should probably ask some questions.

[Locke]

Originally Posted by yourbestfriend

To the people saying that the league or the team needs to get involved, how happy would you be if your employer was poking its nose into your own person legal proceedings?

From a league point of view, they should only be involved if he was betting on hockey (or other stuff outlined by the CBA). If it's only debt from casino gambling, this is between the casino and Kane, nobody else.

I get where you're coming from, but I do think its bigger than that.

What hes gambling on isnt strictly relevant, nor is it irrelevant.

It is not inconceivable that if a Professional Athlete holds a gambling debt, even if that debt is 100% unrelated to that Athlete's Profession, that ways to make up that debt to the holder's benefit could be detrimental to the League and/or Employing Team.

It is a stretch and probably the premise of a Hollywood movie.

That being said, this isnt like boxing or anything. One player cant really have that much of a direct influence on overall team results.

Kane could take a dive or whatever and that wouldnt really be any guarantee of influence over one result or another for betting purposes.

Suffice it to say, this solidifies Kane's Expulsion from House Lannister.

[Strange Brew]

Originally Posted by Dube

lol, hot take. Hopefully the 5 million (before taxes) he’s still owed this year can take care of whatever problem he’s in.

Lol. You think this is the only money he has spent all year? Hot take indeed.

[bettercallbettman]

Originally Posted by Strange Brew

Lol. You think this is the only money he has spent all year? Hot take indeed.

Guess you’re right. Serious money problems to me is him being in the red. If that’s the case, yikes. Hopefully he can get back on track and he will collect his 7 mill for the next 5 years, get back in the black

[Locke]

Originally Posted by Dube

Guess you’re right. Serious money problems to me is him being in the red. If that’s the case, yikes. Hopefully get can get back on track and he can collect his 7 mill for the next 5 years, get back in the green

Back in Black.

There is no Green.

[VladtheImpaler]

Originally Posted by Locke

Back in Black.

There is no Green.

Dube is too young probably to know about AC/DC...

[bettercallbettman]

Originally Posted by Locke

Back in Black.

There is no Green.

My bad. Thanks for the correction.

[Oling_Roachinen]

It's okay Dube, we all make mistakes. For example, because of your avatars I usually get you confused with BlackLantern2814.

[CaptainCrunch]

Originally Posted by Snuffleupagus

How many go broke while they're still earning $7 million a year though?

There was a great 30 for 30 on this subject. It was shocking, it sounds like the NFL is worse because at the end of the season, the checks stop coming and there were lots of players that were living hand to mouth in the offseason.


Vince Young went broke while he was playing.


Scott Eyre went broke while playing and had to ask for an advance on his salary


Travis Henry was completely broke while he played


John Arne Riis was broke despite earning 75k a week


Scottie Pippen made a comeback because he was flat a$$ broke due to his spending during his career.


Terrell Owens was completely broke when he was playing.


It happens more then you would think.

[bettercallbettman]

Originally Posted by Oling_Roachinen

It's okay Dube, we all make mistakes. For example, because of your avatars I usually get you confused with BlackLantern2814.

I’ve been trying to change it. I’m not very tech savvy. Can’t find any pics to fit

[yourbestfriend]

Originally Posted by CroFlames

Your first sentence is not a relevant comparison. The public is not betting on my employers business outcomes.

If (big if) Kane is involved in any type of high stakes gambling, the potential exists that people threaten him to manipulate outcomes in NHL games. This, of course, is a massive problem for the NHL even if the player himself is not betting on hockey.

If a guy is 500k in the hole, there is a chance there are people coming after him so the NHL should probably ask some questions.

Not sure what you're getting at by saying it's irrelevant, but by definition, publicly traded companies business outcomes are being bet on by the public. The analogy is the same. It's no different then regular folks working for publicly traded companies and gambling/investing their salaries away. Unless they were gambling/investing on something that was prohibited, why would the company care?

If and only if Kane's debt is somehow entangled with the prohibited NHL CBA gambling list, the league has no reason to get involved, it doesn't affect them.

[SportsJunky]

Kane sure is a lightning rod. Everybody seems to have an opinion on him. Personally, I couldn’t care less. Save your money, blow your money. Doesn’t affect me at all.

[Blaster86]

Originally Posted by CroFlames

Yes, but it's not outrageous to think he owes money to multiple people.

Unless you have proof or reason to suspect this, it is outrageous.


Again, unless we have proof that there is something shady going on, we have no business in his private life.

[Strange Brew]

I suspect bad investments is what really kills many athletes. Their buddy convinces them to open a restaurant, invest in his start up record label etc. And they lose everything they put in.

[Oling_Roachinen]

I believe that happened to Sergei Federov (and of course Johnson dealing with it now due to his parents).