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Volume 24 No. 156
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          Rockets Owner Leslie Alexander said Sunday that his
     purchase of the NHL Oilers "could be finalized within a
     week," according to Eddie Sefko of the HOUSTON CHRONICLE. 
     Over the weekend it was reported that Alexander has a
     "handshake agreement" to purchase the team from Peter
     Pocklington for $85M.  Under the deal, the Oilers will remain
     in Edmonton for "at least" three more seasons.  Sefko adds
     that during its three year stay in Edmonton, if the team
     makes a profit, it will remain in Edmonton, Alexander will
     sell to a local buyer and he will receive an expansion
     franchise in Houston.  If the Oilers lose money, Alexander
     will be allowed to relocate the team to Houston.  The three-
     year stay in Edmonton should also "provide enough time for a
     new arena to be built in Houston" (HOUSTON CHRONICLE, 10/27). 
     If Alexander owns the NHL and NBA teams in Houston, "the
     fight" between Alexander and Chuck Watson of the IHL Aeros
     and Arena Operating Co. over control of a new arena "would
     effectively become moot" (HOUSTON CHRONICLE, 10/25).  
          FROM EDMONTON: Pocklington: "This is the one (offer)
     that will probably get done.  This is the one I like the
     best" (EDMONTON SUN, 10/25).  Stock & MacDonald reported that
     sources said Pocklington "wants to remain part of the Oiler
     organization under" the new ownership (EDMONTON JOURNAL,
     10/25).  Dan Barnes reported that the deal "would allow"
     Pocklington to keep a 10% stake in the team, receive some of
     the $12M in "expansion revenues due to the Oilers over the
     next few seasons and perhaps make a reappearance in the
     process three years from now" (EDMONTON SUN, 10/25).  In
     Toronto, Al Strachan wrote the NHL "will make sure that it is
     more profitable for Alexander to start a new team in Houston
     than to move the Oilers there" (TORONTO SUN, 10/25).