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NHL OILERS NEWS: ALBERTA SPORTS LOTTERY PROPOSED TO RAISE $$

          The NHL Oilers and other Alberta pro sports teams
     "could benefit from a new private-sector lottery foundation
     as soon as this fall," according to Jac MacDonald of the
     EDMONTON JOURNAL.  The Alberta Sports Prize Bond Foundation
     (ASPBF) will offer as yet undetermined cash prizes to
     participants who buy a C$100, "fully redeemable interest-
     free bond."  The bonds could go on sale this summer.  The
     money raised will be placed in a trust account and the
     interest earned will help fund and upgrade community-owned
     sports facilities used by pro teams in Alberta.  At least
     20% of the interest will go to prize winners.  The ASPBF was
     founded by NHL Oilers investor Jim Hole and Edmonton lawyer
     Robert Turner.  Hole said that he doesn't "anticipate
     problems" from the government because the private lottery
     foundation will be supporting sports facilities that
     otherwise depend on tax dollars.  The proposal "has the
     support" of all of Alberta's major pro sports teams
     (EDMONTON JOURNAL, 4/7).  In Edmonton, columnist John Short
     calls the lottery proposal "a remarkable concept, one that
     deserves every consideration" (EDMONTON JOURNAL, 4/7).
          FINANCING: The Oilers local investors group reached the
     C$54M mark with the addition of two new investors.  The new
     investors bring the total number of unit holders to 20, but
     the actual number of investors totals 26 (EDMONTON JOURNAL,
     4/7).  Investor Cal Nichols said almost every area oil and
     gas company has turned down a naming rights proposal that
     would have generated C$2.7M annually and renamed the
     Coliseum Petroleum Place, with logos of the eight companies
     displayed on the outside of the arena.  Each company would
     have paid about C$300,000.  Nichols: "No one asked a price. 
     They just said no" (EDMONTON SUN, 4/7).    
          DRILLERS DOWNSIZE: The NPSL Drillers said it is
     reducing operations for the summer, and "will evaluate the
     future" as soon as it is decided who will control the
     Edmonton Coliseum license agreement next season (EDMONTON
     SUN, 4/7).  Ten Drillers staff members were "laid off"
     yesterday (EDMONTON JOURNAL, 4/7).  


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Edmonton Oilers, Franchises, NHL, NPSL

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