Settlement has been reached in Evander Kane’s grievance case vs. San Jose

According to insider Kevin Weekes, a verbal settlement agreement has been reached in Evander Kane’s Grievance Case against the San Jose Sharks on Friday.

According to Sportsnet's Elliotte Friedman, the original deal from San Jose was $19M over next three years. Current deal from the Oilers is $16.5M over next three years. It is believed settlement will address that gap. 

In early January, Kane and the NHLPA filed a grievance against the Sharks after the team terminated his contract for what it called a “breach of his NHL Standard Player Contract and for violation of the AHL COVID-19 protocols.” At the time Kane was in the fourth year of a seven-year, $49-million contract signed with the Sharks in 2018.

Following the termination of his contract, Kane signed with the Edmonton Oilers for the remainder of the season and proved to be an impactful player there. This led to Edmonton signing the forward to four-year, $20.5 million deal, including a $11,500,000 signing bonus, $20,500,000 guaranteed, and an annual average salary of $5,125,000.

The case’s conclusion was set to determine whether Kane will be awarded any of the outstanding $22 million and change he was owed by the Sharks when they terminated his contract earlier this season.

However, with Weekes’ latest update, it could mean that the Sharks have agreed to pay Kane an undetermined amount of money to close the case.

The Sharks later confirmed the reports, announcing that an agreement with Kane regarding the termination of his contract. Insider Frank Seravalli believes Kane will receive a one-time payment from the Sharks and the cap penalty for San Jose will be retroactively applied to last season's salary cap.

According to Cap Friendly, the Sharks ended last season with just under $5 million in space. 

"We are satisfied that its terms will not adversely impact the team, either financially or competitively, in this or future seasons," Sharks confirmed in a statement.

This saga is officially over.