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LOCAL OILERS GROUP ADDS INVESTORS, CLAIMS TO BE ON COURSE

          Edmonton's local business group trying to buy the
     Oilers are "perhaps 24 hours away from reaching the minimum
     cash stockpile needed to keep the team," according to
     Bernard Pilon of the EDMONTON SUN.  Group spokesperson Cal
     Nichols "has now set his sights on rasing another" $10M by
     March 13 -- the deadline to prevent the team's sale to Les
     Alexander.  Nichols: "I can tell you we're just under
     [C$50M] and will have that by Friday."  Nichols noted
     financial investments by two Edmonton real-estate
     developers: Melcor Developments CEO Tim Melton and
     Springwood Development Owner Bill Butler (EDMONTON SUN,
     3/5). In Edmonton, Jac MacDonald reports that the new
     financing still leaves the group C$5M short of its C$50M
     goal.  Meanwhile, NHL Commissioner Gary Bettman said the
     Oilers "are viable" in Edmonton: "The issue isn't the
     support of the fans in Edmonton because that support has
     been terrific.  It's been unquestioned" (EDM. JOURNAL, 3/5).

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Edmonton Oilers, Franchises, NHL

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