This is related to January’s news that Kane had filed for Chapter 7 bankruptcy in the state of California.
If Kane’s contract, according to the report, were to be voided it would be “sure to spark ferocious opposition from creditors, several of whom are banks whose loans to Kane are secured by his contract.”
The 29-year-old Vancouver native listed $1.5 million in gambling losses, more than $26.8 million in total liabilities and more than $10.2 million in assets in the bankruptcy documents.
Kane has four additional years remaining on the seven-year, $49-million contract he signed in 2018.
Sportsnet’s Elliotte Friedman wrote, “The Players’ Association in particular would play a significant role in any termination conversation,” when addressing Kane’s situation in a previous 31 Thoughts column.
In the bankruptcy filings, it was suggested Kane was considering opting out of the 2020-21 season but the winger has suited up for all 23 of San Jose’s games and is second on the team with nine goals and 20 points.