Katz Ups Offer Again, But Oilers Investors Still Unreceptive

Oilers Suitor Sweetens Offer For Team

Katz Group Chair Daryl Katz has “sweetened his offer to buy the [Oilers] to include big money for a downtown arena,” according to Terry Jones of the EDMONTON SUN.  In a statement, Katz indicated that he would “spend more money toward a new arena” for the Univ. of Alberta, and he “promised as owner he would hit the NHL salary cap” of US$50.3M.  Katz, who last week upped his offer for the team to C$170M, is “still refusing to speak in any public way or answer any specific questions.”  Katz said in the statement, “There are a number of people within the [Oilers] ownership group who would like to exit their investment and pass the torch to a new generation of leadership.  I want to provide that leadership while preserving the great Oiler traditions and maintaining a strong sense of community” (EDMONTON SUN, 7/25).  In a separate piece, Jones writes Katz’ latest offer is “both teasing and tantalizing.”  But Oilers investor Ron Hodgson said, “I just don't think there's an appetite to sell the team.  I think the people who invested in the Oilers did it for all the right reasons and are intending to keep their shares for all the right reasons” (EDMONTON SUN, 7/25).  Also in Edmonton, Joanne Ireland notes the Oilers investor group is expected to vote on the purchase offer on August 7.  In the meantime, Katz will “continue to speak privately to the 33 owners” (EDMONTON JOURNAL, 7/25).