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Evander Kane Files for Bankruptcy with $26.8 Million in Debt


Phil

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This might have something to do with it....

 

 

 

Cosmopolitan Drops $500,000 Casino Marker Case Against NHL’s Evander Kane

The Cosmo sued Kane last November because the Canadian NHL veteran had been given eight lines of credit in amounts ranging from $20,000 to $100,000 on April 15, 2019, which he had not paid back.

 

Kane was in town that day because the Sharks were facing the Las Vegas Golden Knights in the NHL playoffs.

 

Letting Off Steam

The Cosmopolitan lawsuit demanded repayment of the markers plus legal costs from Kane, who signed a $49 million contract extension with the Sharks in 2018 and is expected to earn $8 million this year.

 

https://www.casino.org/news/cosmopolitan-drops-500k-casino-marker-case-against-nhls-evander-kane/

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I?ve seen enough bankruptcy in my auction work to keep me on the straight and narrow financial path for ten lives.

 

NYS Lottery winner who bought ?all? of his friends motorcycles so they could tour together. But some of them worked so he paid them not to. We sold plenty of garage toys when that one hit the fan.

 

Another example was a child of a CA Lottery winner. She spent her share down to ?0? in less than two years. How? Flying friends to Las Vegas and giving them money to gamble with. Yup, that kind of dumb.

 

It?s easy to out-spend your income when your head gets too big for your wallet. Add gambling to the mix? If that was Kane?s weakness then he could have signed a $100M contract and it still would have all blown up. ?Bigger money, bigger problems? is truth for some people. Craig Carton from WFAN fame had his own nightmare. There are plenty of examples.

 

Kane didn?t help himself with those pictures of him using ?mad stacks? as a cell phone or as a massage tool. Yeah those pics made him a tool. Gambling can lead to addiction. For everyone he owed money to I hope he recovers for them and himself. Looks like he?s heading to discharge debt though...ugh.

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Casinos love to extend lines of credit to people who at least in the beginning have lots of money. And silly people gamble with that like it's free money. And most of them lose, sooner rather than later. Not that different from Craig Carton.

"At first you go bankrupt slowly, then all at once".

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Casinos love to extend lines of credit to people who at least in the beginning have lots of money. And silly people gamble with that like it's free money. And most of them lose, sooner rather than later. Not that different from Craig Carton.

"At first you go bankrupt slowly, then all at once".

 

If he has a gambling addition I hope he seeks help.

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I find this to be very sad. This exact thing happens a lot in the NFL and particularly with athletes who grew up in poor households. They've never been taught how to save, or better yet invest their money.

 

I think rookies go through some kind of class in the NHL - I could be making that up - but all these guys should have financial planners.

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I find this to be very sad. This exact thing happens a lot in the NFL and particularly with athletes who grew up in poor households. They've never been taught how to save, or better yet invest their money.

 

I think rookies go through some kind of class in the NHL - I could be making that up - but all these guys should have financial planners.

 

Yea I?ve heard they have to take a class but I assume it?s like the dmv safety video which most people sleep through.

 

Having a financial planner is important but so is actually listening to one.

 

 

Sent from my iPhone using Blueshirts Brotherhood mobile app powered by Tapatalk

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The athletic article about his situation said Evander also listed 7 dependents.....all as living with him. 6-month-old daughter, his sister, 27, his uncle, 54, his mother, 55, another uncle, 59, his father, 60, and his grandmother, 77.

 

Wonder how much their “helping” his money situation lol

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I have an uncle and aunt who hit the lottery for ~40M a little over 20 years ago, they both had amazing careers at IBM pretty much had all you could ask for prior to hitting the lottery. Huge home in north jersey and one of the huge homes down here on the beach in Mantoloking. Three young boys maybe ages 3, 8, 11. They lost their minds instantly. Walked away from their careers and decided they were going to become real estate moguls down in FL. Same shit as you guys mentioned 5-6 cars etc. Couldn't get enough of anything and everything. The boys grew up in a make believe world. Oldest one was on one of the early MTV spring break series, went to the U of Miami, got an great job in NYC at Barclays.

 

They got their last check about 3 years ago, the two youngest are caddies down there, they live with their parents in a 3 bedroom apartment. They share 3 cars between them. The oldest he was a functioning alcoholic since college, fit right in on Wall St. Made a good living but it wasn't enough once the big checks ran out. He was hospitalized in Sept and never left, he literally drank himself to death passing away a few days after thanksgiving @ 34.

 

Shorter one - wife's step Dad hit the NJ lottery for 12M in the late 80's. He was back working the jack hammer for PSEG within 3 years at 64 years old living in a one bedroom apartment.

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I find this to be very sad. This exact thing happens a lot in the NFL and particularly with athletes who grew up in poor households. They've never been taught how to save, or better yet invest their money.

 

I think rookies go through some kind of class in the NHL - I could be making that up - but all these guys should have financial planners.

 

The athletic article about his situation said Evander also listed 7 dependents.....all as living with him. 6-month-old daughter, his sister, 27, his uncle, 54, his mother, 55, another uncle, 59, his father, 60, and his grandmother, 77.

 

Wonder how much their “helping” his money situation lol

 

I don't know what Kane's parents did when he he signed his first "big" deal, but from the # of dependants listed, it sounds like he was their meal ticket.

 

There's no telling how much of this was his doing vs his "family".

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I don't know what Kane's parents did when he he signed his first "big" deal, but from the # of dependants listed, it sounds like he was their meal ticket.

 

There's no telling how much of this was his doing vs his "family".

Definitely. That’s what it seemed like to me. Again, we don’t know how close he was to family.....but it doesn’t look good....lol

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Because he probably owes more than what he will be making + assests. The title says he's in 26.8M in debt, he makes $7M.

 

One problem he may have along these lines; the bankruptcy trustee at least in the US federal courts assigned to such a case usually takes a very dim view of someone who is younger and still has earning potential using the bankruptcy process to get out from under debts. Credit card companies and casinos, among others, often accept settlements that amount to pennies on the dollar outside of bankruptcy writing it off their balance sheets as an expense, though the forgiven debt constitutes taxable income to the debtor. If you can still work, you may not get released from your debt. That's in normal nonCovid times. Trustee might very well say, look, hundreds of NHL players in exactly your position are in fact working, and your career earning time is limited. You need to be working to help satisfy your debts. Post NHL Evander Kane is probably not ever going to make this kind of money ever again.

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I have an uncle and aunt who hit the lottery for ~40M a little over 20 years ago, they both had amazing careers at IBM pretty much had all you could ask for prior to hitting the lottery. Huge home in north jersey and one of the huge homes down here on the beach in Mantoloking. Three young boys maybe ages 3, 8, 11. They lost their minds instantly. Walked away from their careers and decided they were going to become real estate moguls down in FL. Same shit as you guys mentioned 5-6 cars etc. Couldn't get enough of anything and everything. The boys grew up in a make believe world. Oldest one was on one of the early MTV spring break series, went to the U of Miami, got an great job in NYC at Barclays.

 

They got their last check about 3 years ago, the two youngest are caddies down there, they live with their parents in a 3 bedroom apartment. They share 3 cars between them. The oldest he was a functioning alcoholic since college, fit right in on Wall St. Made a good living but it wasn't enough once the big checks ran out. He was hospitalized in Sept and never left, he literally drank himself to death passing away a few days after thanksgiving @ 34.

 

Shorter one - wife's step Dad hit the NJ lottery for 12M in the late 80's. He was back working the jack hammer for PSEG within 3 years at 64 years old living in a one bedroom apartment.

 

Those are some sad examples of how winning the lottery negatively effected everyone involved. I've actually thought of this with my kids when I'm daydreaming about winning the lottery. I certainly don't want them to turn into entitled little douchebags but I'm not sure how easy that is to prevent when you're talking that kind of f.u. money.

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