Franchises

ALEXANDER REACHES DEAL FOR OILERS; ANNOUNCEMENT TUESDAY?

10.30.1997

          Attorneys for Rockets Owner Les Alexander "have
     finalized" an agreement to buy the NHL Oilers, a source told
     Eddie Sefko of the HOUSTON CHRONICLE.  A formal announcement
     will take place in Edmonton, "although probably not until
     next week."  While the deal is complete, Alexander must now
     begin "the potentially deal-killing exercise of waiting to
     see if any local investors in Edmonton can step up and pay
     $70 million for the team" (HOUSTON CHRONICLE, 10/30).  The
     EDMONTON JOURNAL reports Alexander will be in Edmonton next
     Tuesday for a news conference (EDMONTON JOURNAL, 10/30).

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