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As Expected- Oilers Reject Katz Offer
by Paul on 08/07/07 at 12:49 PM ET
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from TSN,
The Edmonton Investors Group (EIG), headed up by chairman Cal Nichols, held a news conference Tuesday afternoon to announce Katz’ latest offer had been turned down. Nichols also announced today that the group has voted to declare the team not for sale.
Katz, who owns the Rexall Pharmacy chain, made a $170 million offer last month that included more than an investment in the hockey club.
‘‘I am also prepared to make a significant additional investment of time and money towards the development of a new downtown arena facility for the team and the city if that’s what the people of Edmonton want,’’ Katz said.
Filed in: Edmonton Oilers | KK Hockey | Permalink
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I suppose with all the hubub about moving teams around, no owners want to take any risks. Besides, what reason is there for them to sell the Oilers? They’ll only be sold if they become extremely unprofitable.
Posted by NHLHobo on 08/07/07 at 12:53 PM ET