Saturday, May 05, 2007

I'll Make Him an Offer He Can't Refuse!

Daryl Katz, the drugstore billionaire and yes, of the Rexall chain of drugstores, has made an offer of $145 million, according to the Edmonton Journal, to buy the Edmonton Oilers. This local boy, who is on the Forbes richest list, wants the Edmonton Oilers and that they will remain in Edmonton.

Is anyone else loving this idea? Hometown boy buys local hockey team? Hells yeah. Or hometown billionaire buys local team? Sounds good does it not? But will the EIG sell? The offer was made several days ago and the owners are now mulling it over. I think this sounds awesome and correct me if I'm wrong, this will be great for the Edmonton Oilers. Finally an owner (only one compared to the 30 we have now) who can and will spend money.

This is good, right????

Update: The offer has been turned down. However, this bit was very interesting:

"When Nichols was asked if that means the matter is closed, he replied: "I would say, at that price, at this point in time, that's probably correct."

So this could be a negotiating tactic. No one ever takes the first offer. OR maybe not.....

"It's a question of, philosophically, what serves the community best?" Nichols said. "Is a larger group of networks better able to sell Oilers tickets and product than one person?"

So having over 30 owners is better than 1? Seriously dude....I call bullshit on that one. Yes having one owner, a local boy who is a billionaire is obviously not as good as 30 owners, which not one is a billionaire. Ahuh, good one Cal.

"And, I guess, the same applies to the building."

He was referring to the much-discussed possibility of a new downtown arena, whose price tag has been estimated as high as $500 million. Nichols is a member of a committee struck by Mayor Stephen Mandel to study the feasibility of such a facility.

If they really want us to believe whatever they are doing is in the best interest of the team, I suggest don't lie and say 30 owners is better than 1. You totally lost me there.


D. said...

30 owners. Yeesh. Too many cooks in the kitchen.

Scarlett said...

It was great they stepped up a decade ago when the team needed them. But when you have someone with very deep pockets willing to buy, it'd be stupid to say no. I hope they are saying no as a tactic!!

Way too many cooks, and cheap!

Stan the Caddy said...

"Is a larger group of networks better able to sell Oilers tickets and product than one person?"

Since when have the Oil had trouble selling tickets?

Scarlett said...

Exactly. Selling tickets or getting the city to support this team has never been a problem. Idiots!