Katz raises bid
bingofuel
December 13 2007 03:24PM
Tsn.ca is reporting that Daryl Katz has raised his bid to $188 million for the Oilers. EIG Chairman Cal Nichols says that this is an offer that he would "enthusiastically support." And goes on to say that he is “extremely proud of what the EIG has done for the Oilers, the City of Edmonton, and Oilers fans everywhere, but it's probably time to pass the torch to a new generation of ownership."
A $188 million dollar bid represents quite a premium over what the team is generally believed to be worth something in the neighborhood of $157 M.
We personally believe that local hometown billionaire heroes are hard to come by, and that the EIG did their service to the OilersNation when Pocklington was doing everything he could to move the team out of town. Plus Katz has promised to spend to the cap, which can only mean good things including a possible 10 year $357 million dollar contract to Marty Reasoner on the horizon. What do we think, Nation? Should Katz’s offer to buy the Oil be accepted by the EIG? Is this good for the city and the team?
Update: From what we have heard from our real, honest to goodness sources, Katz' bid will be accepted by the EIG and he will become the new owner of the team.
This is an excellent thing for the city. I would think this would bring to an end all talk of the Oilers being a "small market team" like when Melnyk bought the Senators
Its great GO OIL GO!
I bet you anything this means Edmonton will get a new arena downtown.
Ive heard he's promised 100 million for a new downtown arena. Sounds like a great sale to me!Get 'er done!
but can they import the northlands stank into the new arena? CAN THEY??
The $100 million is actually being spent on specially-formulated Glade plugins that will give the new arena that stale, "Northlands Coliseum" odour!