Sharks, Kane reach settlement in grievance case
"The San Jose Sharks have reached an agreement with Evander Kane regarding the termination of his NHL Standard Player Contract," the club said in a statement. "The agreement has been approved by the NHL and the NHL Players' Association. We are satisfied that its terms will not adversely impact the team, either financially or competitively, in this or future seasons."
The Sharks placed Kane on waivers last season to terminate his contract after breaching AHL COVID-19 protocols in December. Kane was also suspended 21 games in October for violating the NHL's COVID guidelines.
The NHLPA quickly filed a grievance on Kane's behalf, stating the Sharks didn't have sufficient cause to justify the end of the agreement, which was signed in 2018.
Kane had three years remaining on his old deal with San Jose and was owed $19 million. He joined the Edmonton Oilers on a one-year pact to finish out the 2021-22 season after he was waived. Kane re-upped with Edmonton this summer, inking a four-year, $20.5 million deal.
The grievance settlement will address the difference in pay between Kane's terminated Sharks contract and his new Oilers pact over the next three seasons, reports Sportsnet's Elliotte Friedman.
San Jose will receive a one-time, retroactive cap penalty applied to last season's total, according to Daily Faceoff's Frank Seravalli. It's the first retroactive contract termination of its kind, per CapFriendly.
Kane is set to begin his 14th NHL season in October.