WHILE OILERS OVER BUDGET, TEAM DOESN'T NEED CASH INFUSION

          During its annual meeting yesterday, the Oilers
     Investors Group elected a new BOD, heard a financial report
     that "showed it will be noticeably over budget," approved a
     negotiating committee to find a new president and GM and
     "set the stage for next Tuesday's election of a new board
     executive," according to John Korobanik of the EDMONTON
     JOURNAL.  Board Chair Cal Nichols "said the budget report
     was trouble to some investors," as the team expects to be
     C$1M over budget, "but will escape having to ask the
     investors for more money."  The Oilers also announced that
     their season-ticket drive had reached 11,957 with less than
     a week to sell the 13,000 required to qualify for the NHL's
     Canadian Assistance Plan (EDMONTON JOURNAL, 5/26).  Bruce
     Saville, who invested C$7M into the franchise, formally
     resigned his position on the Board.  He will be represented
     by Toronto accountant Bill Cunningham (EDMONTON SUN, 5/26).