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WILL OILERS BE LIVING LARGUE IF N.Y. INVESTOR BUYS IN?
Published February 19, 1998
N.Y. investment banker Michael Largue says that he and an unnamed Swiss banker have up to $100M to spend on an NHL team "and are eager to take control of the local effort to buy the Oilers," according to Bart Johnson of the EDMONTON SUN. Although Largue has not formally submitted any bid, he said that he and his partner would want control of the team, with input from the local owners (EDMONTON SUN, 2/19). NO PROVINCIAL HELP: Alberta Premier Ralph Klein said that there are "no provincial moves to help out" the NHL Oilers, but a new city-appointed community lottery board "may be able to" direct some of its money to try to keep the team in town. Meanwhile, Edmonton Mayor Bill Smith said that local businessman Al Owen's contribution has pushed the local bid to C$45M, leaving the group C$7M shy of the NHL's requirement of having 50% of the Oilers' price tag "in hand before financing the rest" (EDMONTON SUN, 2/19)....Almost C$18,000 has been donated from 34 people and businesses to the Edmonton Oilers Forever Fund (EDMONTON JOURNAL, 2/19).