Katz raises bid

bingofuel
December 13 2007 03:24PM

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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?

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Bingofuel is the handsome cyborg who pulls all the levers behind the curtains of the OilersNation. When he isn't running the site, he's plugged into a wall socket, recharging. Or Brownlee and Wanye are playing "keep away" with him. He gets little to no respect.
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#1 The Nation
December 15 2007, 06:53PM
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The $100 million is actually being spent on specially-formulated Glade plugins that will give the new arena that stale, "Northlands Coliseum" odour!

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#2 OilersNation
December 13 2007, 03:27PM
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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.

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#3 Wingman
December 13 2007, 03:31PM
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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

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#4 TrevorD
December 13 2007, 03:50PM
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Its great GO OIL GO!

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#5 Jason
December 13 2007, 03:53PM
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I bet you anything this means Edmonton will get a new arena downtown.

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#6 Hemmer
December 13 2007, 08:26PM
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Ive heard he's promised 100 million for a new downtown arena. Sounds like a great sale to me!Get 'er done!

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#7 eeerin
December 15 2007, 04:57PM
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but can they import the northlands stank into the new arena? CAN THEY??

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