The filling detailed liabilities of $26.8 million and assets — largely three homes — of $10.2 million. And the filing included a note that warns he may not even play this year.
It’s unclear how the 29-year-old Kane, who has earned $52.9 million in team pay during his 11-year career, according to capfriendly.com, lost his money, but there are a few clues in the petition. Last year, The Cosmopolitan of Las Vegas
settled a lawsuit against Kane for
unpaid gambling bills. According to the Chapter 7 petition, in the last 12 months, he lost $1.5 million gambling.
The petition also listed
seven dependents, all as living with him: his 6-month-old daughter, his sister, 27, his uncle, 54, his mother, 55, another uncle, 59, his father, 60, and his grandmother, 77.
What could lead to $26.8 million of debt was not spelled out in the petition for Chapter 7, a process which protects individuals or companies from creditors and provides for liquidation of certain assets to pay debts. Kane listed
47 creditors, ranging from a host of individuals to banks like Centennial and Scotiabank, to his former agency Newport.
The petition also disclosed he has a claim against Sure Sports, the loan broker that arranged the Centennial credit. “Claims against Leon McKenzie and Sure Sports LLC related to business advice and obtaining loans for Debtor,” the petition noted, referring to the CEO of the loan broker. “This includes violation of the Florida Broker’s Act, Deceptive and Unfair Trade Practice, Fraud, Breach of Fiduciary Duty.”
Sounds like Kane is supporting an entire compound with three homes and more than half a dozen people on the payroll...
Maybe most surprising though is the fact that Kane's lawyer has stated that Kane may not play this season due to health concerns."