Evander Kane files for Bankruptcy

[SeanAvery2point0]

Evander Kane has filed for bankruptcy with over $25M in liabilities.... yikes

https://theathletic.com/2316763/2021...ne-bankruptcy/

[Jeffc]

I guess he regrets taking these pics

[4wedges]

I'm only surprised that he filed while still playing, and with his large contract still in effect.

[Jeffc]

I'm only surprised that he filed while still playing, and with his large contract still in effect.

apparently took a loan out and used his contract as collateral.

[Pingeye2_fan]

I don't subscribe so couldn't read the article, did they say what the cause was?

Was he adopted by Jack Johnson's parents?

[Marty Canuck]

Maybe he bet it all on Trump.....

[SeanAvery2point0]

apparently took a loan out and used his contract as collateral.

Bought everybody in his family an AMG and bought 3 homes worth $10M... with the loan.

[ace in the hazard]

Maybe he bet it all on Trump.....

Maybe...

"Kane said his monthly income amounts to minus-$91.131.13. He said he lost $1.5 million over the past month while gambling and has seven dependents who currently live with him."

[SeanAvery2point0]

Maybe...

"Kane said his monthly income amounts to minus-$91.131.13. He said he lost $1.5 million over the past month while gambling and has seven dependents who currently live with him."

Professional sports teams provide all kinds of services to their players, why a financial advisor is not one of them is beyond me when they are paying these guys millions of dollars per year.

[vermin40]

Maybe...

"Kane said his monthly income amounts to minus-$91.131.13. He said he lost $1.5 million over the past month while gambling and has seven dependents who currently live with him."

That’s......impressive.
What the hell is he betting on?
Does he ever win?

[Marty Canuck]

Professional sports teams provide all kinds of services to their players, why a financial advisor is not one of them is beyond me when they are paying these guys millions of dollars per year.

Good friend of mine does that for a living actually. But it is up to the players to sign up for it on their own.

Chris has written books on the subject. Not sure if naming it here violates forum rules?

[Pingeye2_fan]

Good friend of mine does that for a living actually. But it is up to the players to sign up for it on their own.

Chris has written books on the subject. Not sure if naming it here violates forum rules?

Thought I read or heard somewhere that a discussion with NBA rookies was mandatory.

Sounds like he is surrounded by enablers.

[Marty Canuck]

Thought I read or heard somewhere that a discussion with NBA rookies was mandatory.

Sounds like he is surrounded by enablers.

True that they might get some direction as rookies but young guys making more money than they ever even imagined possible are a funny bunch.

[Pingeye2_fan]

True that they might get some direction as rookies but young guys making more money than they ever even imagined possible are a funny bunch.

For sure, think about a 14 year old in the Dominican years ago, probably didn’t have a baseball glove and 5 years later he’s in America with money and temptations everywhere.

[pudubny]

You can't make them take on financial advisors. I cannot imagine modern sports leagues don't have tons of info and support. The players union does a lot of work here also. I've seen in real life how this works. The TV series with Dwayne Johnson called Ballers on HBO documents it well. It's the entourage. The group surrounding the player that includes family and childhood friends they feel responsible for. Often for good reasons and out of a sense of loyalty and trust. A Raptors rookie moved into our building. He had two friends from his hometown that moved in as well. He went on to have a average NBA career. Not great, not bad. He rented a nice double unit. He rented another large condo in the same building for his two buds. Very nice guys. But then he started a local business and one of the two was the "manager". In our discussions with him, he knew nothing about management, didn't even understand local labour rules or tax filings. Soon it had all kinds of issues the player discussed with us briefly. It needed professional management or at least a part time accountant to help. He was weary to bring someone in as his buddy might be offended. The two buds frequented our pub and ran up significant tabs with their friends, all paid by the player. Not $100 here or there but $1000+ entertaining girls with expensive wine and cognac. Both had high end SUV's to drive. The player left the Raps so we never saw the outcome. But my mate is good friends with Butch Carter and he talks about how much influence and these groups can have on players. The challenges with players he sees not managing their life well. He tries to help but it's up to the player.