“The San Jose Sharks have reached an agreement with Evander Kane regarding the termination of his NHL Standard Player Contract. The agreement has been approved by the NHL and the NHL Players’ Association. We are satisfied that its terms will not adversely impact the team, either financially or competitively, in this or future seasons,” the Sharks' statement read.
The settlement is believed to address the gap between the final three years of Kane's previous contract with the Sharks and the next three years of his current deal with the Edmonton Oilers, Sportsnet's Elliotte Friedman reports — a difference of $2.5 million.
Kane and the NHLPA filed the grievance against the Sharks in early January after the team terminated his contract for what it called a "breach of his NHL Standard Player Contract and for violation of the AHL COVID-19 protocols." At the time Kane was in the fourth year of a seven-year, $49-million contract signed with the Sharks in 2018.
Following the termination of his contract, Kane signed with the Oilers for the remainder of the season and proved to be an impactful player there — scoring 13 goals in the playoffs as Edmonton reached the Western Conference Final.
Kane then re-signed with the Oilers this off-season on a four-year, $20.5-million contract.
"I played some of my best hockey in San Jose and gave everything I had on the ice," wrote Kane is a statement. "I really enjoyed playing in front of the sharks fans and appreciate my loyal fans who have supported me throughout. Adversity can either break you or make you stronger. I'm happy to finally close that chapter of my hockey career. Edmonton let's go!"
The Sharks will receive a penalty that's retroactively applied to last season's salary cap.