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LOCAL BIDDERS STILL SHORT IN EFFORTS TO SAVE NHL OILERS
Published January 5, 1998
A group of local investors hoping to buy the NHL Oilers is $15M short of the US$50M it needs to proceed with its bid, according to Ric Dolphin of the EDMONTON JOURNAL. An investor, who asked not to be identified, said that if the group can raise $50M the Alberta Treasury Branches "has agreed to carry" a US$20M loan on the team. The group is "confident" the $15M will be raised soon. Meanwhile, Rockets Owner Les Alexander, whose earlier offer of US$88.8M was unsuccessful, "is putting the finishing touches on a second bid that is expected any day" (EDMON. JOURNAL, 1/3).