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ATB TO ACCEPT OUTSIDE BIDS FOR OILERS; WILL LOCAL BIDS RISE?
Published October 7, 1997
Alberta Treasury Branches (ATB) "is looking for bids higher than the two already proposed by local groups" to buy the NHL Oilers, a source told Jac MacDonald of the EDMONTON JOURNAL. The two bids from local business groups are both believed to be for about US$70M and would pay for not only the Oilers but also Coliseum Management Inc., which operates the Edmonton Coliseum. MacDonald's source said that Midland Walwyn, the company handling the sale for Oilers Owner Peter Pocklington, and ATB "are expecting to receive offers from outside buyers soon." When that happens, the source added, "the local bids are expected to be increased." Pocklington declined to discuss the progress of sales talks yesterday, but confirmed he is no longer drawing any management fees as part of his team ownership (EDMONTON JOURNAL, 10/7).