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Oilers Reject C$145M
Offer To Buy Team |
Katz Group Chair Daryl Katz offered C$145M to buy the Oilers several weeks ago, but was “informed Saturday the team was not for sale,” according to Allan Maki of the Toronto GLOBE & MAIL. Oilers Chair Cal Nichols said that a “sizable majority of the 33 owners was not willing to sell.” Nichols said, “There was more an appetite to stay. This group has endured a lot of pain and agony and expense.” However, Nichols indicated that there are “some owners who are willing to accept Katz’s offer.” Katz spokesperson Josh Pekarsky said that there was “still hope for a deal.” Pekarsky: “We also understand that many of the original owners now wish to move on.” Maki reports the current value of the team is around C$96M (
Toronto GLOBE & MAIL, 5/7). Nichols said there has been “no formal offer” and just an Sinquiry” by Katz about the team. Oilers investor Larry Makelki said, “We’re not for sale. Everybody is happy with our involvement so far as I know. The only thing we’re not happy about is that we’re not in the playoffs” (
EDMONTON SUN, 5/6). In Edmonton, John MacKinnon noted that if Katz or another suitor “could entice Oilers owners whose shares total a two-thirds majority to sell, the remaining investors would have no choice but to do the same.” Katz’ holdings include the Rexall pharmacy chain, which holds the naming rights to the Oilers’ home arena (
EDMONTON JOURNAL, 5/6).
