Kukla's Korner Hockey
by Paul on 07/18/07 at 07:20 PM ET
from Ryan Rishaug at TSN,
There very well could be a change of ownership on the horizon for the Edmonton Oilers. Sources tell TSN that local billionaire Daryl Katz has submitted an offer to buy the franchise outright from the Edmonton Investors Group.
The exact dollar value of the offer is unknown, but this isn’t the first time Katz has taken a run at getting in. Earlier this year on 2 occasions he approached the board of directors with preliminary offers to buy shares in the team and both times he was steered aside. But apparently this time, Katz has bypassed the board of directors and gone straight to the shareholders with the offer to buy the whole thing.
added 6:41pm, from Dan Barnes at the Edmonton Journal,
It’s a month old and Oiler owners still consider it an informal bid, but
Edmonton billionaire Daryl Katz’s offer to purchase the team now stands at $150 million Cdn, an increase of $5 million on his original gambit.
The Edmonton Investors Group, which owns the National Hockey League franchise, have discussed Katz’s proposal but will not respond to it until they believe it constitutes a formal offer to purchase.
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Paul Kukla founded Kukla’s Korner in 2005 and the site has since become the must-read site on the ‘net for all the latest happenings around the NHL.
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