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?