Rockets Owner Les Alexander has signed an agreement
with Alberta Treasury Branches and Peter Pocklington to
purchase the NHL Oilers. Local buyers have 30 days to keep
the team in Edmonton. If the transaction goes through,
Alexander said he would like to bring the team to Houston
(Rockets). In Houston, David Barron reports that
Alexander's purchase price is $82.5M. However, Alexander
said he cannot move the team to Houston without a new arena:
"There are other aspects that I cannot discuss right now,
but the team cannot come to Houston until an arena is built
in Houston." But Alexander added that the Oilers will not
remain in Edmonton for the '98-99 season if he buys them.
Although he wouldn't say where they will play next season,
"speculation points toward Nashville," which has a "suitable
arena" and is scheduled to receive an NHL expansion team.
Under that scenario, "the expansion franchise earmarked for
Nashville would pass into Alexander's hands and would be
located in Houston, assuming a new arena is available"
(HOUSTON CHRONICLE, 2/11). In Edmonton, Bernard Pilon
reports that local buyers have until March 13 to come up
with $70M to retain the team (EDMONTON SUN, 2/11).
