After 18 months of negotiations, Edmonton Northlands
group and the Oilers have agreed on a deal that will keep
the NHL team as the "prime tenants" at Skyreach Centre until
2004, according to Florence Loyie of the EDMONTON JOURNAL.
Under a '98 deal, Northlands "regained control" of the
facility from former Oilers Owner Peter Pocklington. The
deal allowed the team to use the building for $1 per year,
which leaves Northlands with an annual C$4.8M shortfall.
The city will pay C$2.4M as its share, and the rest of the
deficit will be made up between the team and Northlands.
Oilers Investors Group Chair Jim Hole said that both sides
in the talks "made major concessions," but he did not
specify what those concessions were (EDM. JOURNAL, 12/15).
OWNERSHIP COMING TOGETHER? A member of the Oilers
ownership group said that rifts "among his colleagues have
appeared to have been smoothed over." The member: "I think
things are going to get better now. Everybody had a few
days to think about what happened last week. It was real
ugly and we don't need that to happen again. I think the
group will come together now" (EDMONTON SUN, 12/15).
