Headlines

  • Ducks May Offer Record-Breaking AAV For Mitch Marner
  • Oilers’ Ryan Nugent-Hopkins Uncertain For Game 3
  • Maple Leafs Hire Derek Lalonde As Assistant Coach
  • Avalanche’s Logan O’Connor Out 5-6 Months Following Hip Surgery
  • Lightning Hire Dan Hinote As Assistant Coach
  • Stars Fire Pete DeBoer
  • Previous
  • Next
Register
Login
  • MLB Trade Rumors
  • Hoops Rumors
  • Pro Football Rumors

Pro Hockey Rumors

  • Home
  • Teams
    • Atlantic
      • Boston Bruins
      • Buffalo Sabres
      • Detroit Red Wings
      • Florida Panthers
      • Montreal Canadiens
      • Ottawa Senators
      • Tampa Bay Lightning
      • Toronto Maple Leafs
    • Central
      • Chicago Blackhawks
      • Colorado Avalanche
      • Dallas Stars
      • Minnesota Wild
      • Nashville Predators
      • St. Louis Blues
      • Utah Mammoth
      • Winnipeg Jets
    • Metropolitan
      • Carolina Hurricanes
      • Columbus Blue Jackets
      • New Jersey Devils
      • New York Islanders
      • New York Rangers
      • Philadelphia Flyers
      • Pittsburgh Penguins
      • Washington Capitals
    • Pacific
      • Anaheim Ducks
      • Calgary Flames
      • Edmonton Oilers
      • Los Angeles Kings
      • San Jose Sharks
      • Seattle Kraken
      • Vancouver Canucks
      • Vegas Golden Knights
  • About
  • Advertise
  • Contact Us
  • Partners
    • MLB Trade Rumors
    • Hoops Rumors
    • Pro Football Rumors
Go To MLB Trade Rumors
Go To Hoops Rumors

Evander Kane, San Jose Sharks Reach Settlement

September 16, 2022 at 11:04 am CDT | by Gavin Lee 6 Comments

11:55 AM: Seravalli has elaborated on the specific nature of the settlement. He reports that Kane will receive a “one-time payment” from San Jose, and as a result, a “cap penalty” will be retroactively applied to last season’s salary cap calculation for the Sharks, who finished last season with just under $5MM in space.

Presumably, the nature of this settlement means the cap implications of the agreement are entirely in the past and will not have an impact on GM Mike Grier’s roster-building decisions moving forward.

11:04 AM: One of the oddities of this NHL offseason was the cloud of a grievance hanging over Evander Kane, the San Jose Sharks, and the Edmonton Oilers. Kane had filed for wrongful termination of his previous contract with the Sharks, while the Oilers had signed him anyway, with the hope that things could be settled and Kane could continue to play in Edmonton.

It appears as though that will be the case, as Kevin Weekes of ESPN reports that a verbal settlement has been reached between the Sharks and Kane. Frank Seravalli of Daily Faceoff expands on the details, explaining that the Sharks are expected to face a salary cap charge because of the settlement, though are mitigating the risk that an arbitration decision could have brought.

When his contract was terminated, Kane had three years and $19MM in salary remaining. His new four-year contract with Edmonton is worth $16.5MM over those same three seasons, leaving a disparity of $2.5MM. Darren Dreger of TSN tweets that the settlement is expected to “come close” to making up that difference, though it is not clear how the cap charge will be applied at this point.

Even if it is just $2.5MM spread over three seasons, it is meaningful. The Sharks currently have less than $250K left under the cap ceiling with a projected 23-man roster, meaning any additional penalties will make things tight for this season. Of course, that is the much-preferred option to having Kane’s entire contract on the books, which would have been possible if he won the grievance and was reinstated.

The Sharks moved on from Kane quite some time ago, stashing him in the minor leagues for the start of last season until they could terminate the contract. He then joined the Oilers on a one-year deal and scored 22 goals and 39 points in 43 games down the stretch. He re-signed with Edmonton and now carries a cap hit of $5.125MM through 2025-26.

Share 0 Retweet 0 Send via email

Edmonton Oilers| San Jose Sharks Evander Kane| Salary Cap

Blake Wheeler No Longer Captain Of Winnipeg Jets
Main
Snapshots: Martin, SHL, Foley
View Comments (6)

Comments

  1. MrStomper 2

    3 years ago

    I can’t wait for the “new and improved Kane” to revert back to the “locker room Cancer Kane”. McDavid will really start to pout.

    Reply
    • Buff Barnacles

      3 years ago

      Explain?

      Reply
    • Ducey

      3 years ago

      Nothing to explain. He’s a troll.

      The Oilers took a gamble here and got a great deal. $5.125/ yr is an underpay

      2
      Reply
  2. Nha Trang

    3 years ago

    (scritches his head) How could the Sharks and Kane between them settle any cap penalty? Isn’t that between the Sharks and the league? (With, granted, the NHLPA possibly butting in.)

    1
    Reply
    • Ducey

      3 years ago

      If two teams, the union and the player are all in agreement, I doubt the NHL is going to get in the way.

      Bettman is certainly not going to let any principles get in his way

      Reply
  3. Polish Hammer

    3 years ago

    Time to head to Vegas and celebrate at the tables.

    Reply

Leave a Reply Cancel reply

Please login to leave a reply.

Log in Register

    Top Stories

    Ducks May Offer Record-Breaking AAV For Mitch Marner

    Oilers’ Ryan Nugent-Hopkins Uncertain For Game 3

    Maple Leafs Hire Derek Lalonde As Assistant Coach

    Avalanche’s Logan O’Connor Out 5-6 Months Following Hip Surgery

    Lightning Hire Dan Hinote As Assistant Coach

    Stars Fire Pete DeBoer

    Rangers Hire David Quinn, Joe Sacco As Assistant Coaches

    Bruins Name Marco Sturm Head Coach

    Re-Signing Luke Hughes Top Priority For Devils Off-Season

    Penguins Name Dan Muse Head Coach

    Recent

    Ducks May Offer Record-Breaking AAV For Mitch Marner

    How The Canucks Need To Approach This Summer

    Five Key Stories: 6/2/25 – 6/8/25

    PHR Mailbag: Tkachuk, Blackhawks, Dobson, Red Wings, Jets, Kings

    Blue Jackets Notes: Provorov, Danforth, Keskinen

    Lightning Sign Jack Finley To Three-Year Contract

    Sabres Mulling Options As Draft Approaches

    Brad Marchand Discussed Future With Panthers

    2025 NHL Draft Combine Results

    Oilers’ Ryan Nugent-Hopkins Uncertain For Game 3

    Rumors By Team

    Rumors By Team

    • Avalanche Rumors
    • Blackhawks Rumors
    • Blue Jackets Rumors
    • Blues Rumors
    • Bruins Rumors
    • Canadiens Rumors
    • Canucks Rumors
    • Capitals Rumors
    • Devils Rumors
    • Ducks Rumors
    • Flames Rumors
    • Flyers Rumors
    • Golden Knights Rumors
    • Hurricanes Rumors
    • Islanders Rumors
    • Jets Rumors
    • Kings Rumors
    • Kraken Rumors
    • Lightning Rumors
    • Mammoth Rumors
    • Maple Leafs Rumors
    • Oilers Rumors
    • Panthers Rumors
    • Penguins Rumors
    • Predators Rumors
    • Rangers Rumors
    • Red Wings Rumors
    • Sabres Rumors
    • Senators Rumors
    • Sharks Rumors
    • Stars Rumors
    • Wild Rumors

    Latest Rumors & News

    Latest Rumors & News

    • Sam Bennett Rumors
    • Nikolaj Ehlers Rumors
    • Mitch Marner Rumors
    • Marco Rossi Rumors

    Pro Hockey Rumors Features

    Pro Hockey Rumors Features

    • Support Pro Hockey Rumors And Go Ad-Free
    • 2025 Free Agent Focus Series
    • 2025 Offseason Checklist Series
    • 2025 NHL Free Agent List
    • 2026 NHL Free Agent List
    • Active Roster Tracker
    • Coaching Staff Directory
    • Draft Order 2025
    • Trade Tracker
    • Pro Hockey Rumors On X
    • Pro Hockey Rumors Polls
    • Waiver Claims 2024-25

     

     

     

    Navigation

    • Sitemap
    • Archives

    PHR Info

    • About
    • Privacy Policy
    • Commenting Policy

    Connect

    • Contact Us
    • Twitter
    • Facebook
    • RSS Feed

    Pro Hockey Rumors is not affiliated with National Hockey League, NHL or NHL.com

    scroll to top

    Register

    Desktop Version | Switch To Mobile Version