Sharks rep clarifies Evander Kane contract situation, says they are committed to honoring the deal

On Wednesday afternoon, San Jose Sharks winger Evander Kane made his way back into the hockey headlines when he and the team announced that they could be considering voiding the remainder of his contract with the club. For more on that story, click here.

Initially, when that bombshell dropped, the Sharks had refused to comment on the matter, but later in the afternoon, a Sharks spokesperson issued a statement indicating the contrary.

"The Sharks are 100 percent committed to honoring Evander Kane's contract, and have no intention of having it terminated," said the spokesperson.

That seems like a pretty clear cut answer as to what we can expect from Kane and the Sharks in terms of whether or not the contract will be fulfilled. So why then was a request submitted to the federal bankruptcy court for an extension to the deadline for which Kane has to move to reject his contract?

Well, according to the Sharks spokesperson, the team was worried that if Kane's original deadline (which was set for this week) had passed without a formal decision having been made, that the contract would automatically be voided. It is for this reason that the request was submitted to the court, and approved by Judge Stephen Johnson, who granted Kane and the Sharks an additional 90 days to make a decision.

It is a bit of a confusing situation to say the least, but from what I can gather from the information in the source article, the creditors are attempting to secure what they are owed from Kane's existing contract. That contract is protected under Chapter 7 bankruptcy guidelines. The creditors are attempting to prove that his bankruptcy should fall under Chapter 11, which would not protect these future earnings. If, in fact, Kane's bankruptcy is converted to Chapter 11, the creditors would have the right to try to reclaim what they are owed from Kane's contract, hence why a contract rejection may be the best option in the long run.

Obviously, this is not the last we will hear of this matter, but with Kane now being able to focus on completing his season with the Sharks before any decisions need to be made, he can look to help the team right the ship and climb out of the basement of the West Division.

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