File this under "there has to be something more to this than we know." According to numerous media outlets, Daryl "Kay-Z" Katz "is working on a deal to take control of Copps Coliseum and Pan Am Stadium in Hamilton, Ontario."
"The owner of the Edmonton Oilers Daryl Katz is working on a deal to take control of Copps Coliseum and Pan Am Stadium in Hamilton, Ontario.
Katz is in Hamilton Tuesday to discuss a non-binding memorandum of agreement with council. This deal could potentially lead to a licence to operate both Copps Coliseum and the yet to be built Pan Am Sports Stadium.
CTV News has learned AEG, an American consultant group helping Katz put together the arena district design here in Edmonton, is also speaking with councillors Tuesday. Katz has also commissioned a survey in Hamilton on the viability of an NHL team in that city.
Reports say the goal for Katz right now seems to be taking control of the potential arrival of a relocated or expanded NHL team. There are suggestions this might also be an attempt to put pressure on the Alberta government to support a new arena in Edmonton’s downtown core.
There have been previous reports of Waterloo billionaire Jim Balsillie’s quest to purchase the Phoenix Coyotes and relocate them to Hamilton. It’s not clear what kind of impact this new memorandum of understanding will have on those negotiations. Hamilton city council has scheduled a press conference for later Tuesday afternoon. It’s expected that the Katz Group will speak publicly about the possible agreement as well."
Now before we get our collective underwear in a giant knot and think Katz is positioning the team to potentially leave the City let’s just put that bag of worry down for the moment.
The Oilers are among the least likely teams to move in the NHL. 200 plus sellouts in a row – with many last minute ticket sales going to a "Mr. D Katz" – coupled with about 10 NHL teams that actually SHOULD be moving but can’t, pretty much rules this out.
Phoenix has no business being in Phoenix and they can’t leave. The Oilers? Never.
Was this a Billionaire cock block Katz (1) v Balsillie (0)?
Is it a way for Katz to get a new arena without having to get one built? Imagine a series of Apache helicopters flying it into Downton Edmonton with Katz standing on the roof of the Greyhound bus terminal and nodding with approval.
Or is Katz following in the steps of American Ballerpreneur Phillip Anschutz who owns numerous sports teams around the world including the LA Kings in addition to directly and indirectly owning dozens of sporting facilities around the world?
Watching a rich guy from a far is sort of like staring at one of those magic eyes. At first you think you see something, but upon closer inspection- POOF! – it’s something different altogether.
UPDATE: ARTICLE 2
With a januty tip of the cap to our boy Crooked, there is another take on Katz money moves, courtesy of the Hamilton Spectator:
"Edmonton Oilers billionaire owner Daryl Katz and entertainment giant AEG are looking at taking control of Hamilton’s Copps Coliseum and the future Pan Am stadium. The group is at city hall today, asking council for time to come up with a business plan and proposal for the sports and concert facilities.
Patrick Laforge from theOilers’ group first approached council shortly after the Balsillie deal locking up Copps expired last fall. By April, he had a general agreement in place with HECFI to hold Copps for the group while they assembled a pitch.
That deal expires on July 1, and today’s meetings are an effort to extend that arrangement to give the group more time to develop a business case. LaForge said that after watching the Balsillie-NHL fight over an NHL team, they decided to move in and take a ”more professional and more strategic” approach to the city’s professional sports prospects.
He stressed this is not about moving the Oilers to Hamilton and there is no proposal for an NHL team on the table. He said their involvement is about creating a facility that could support an NHL team. LaForge also suggested that Copps may be too old for an NHL team and that a new arena may have to be built."
Did Patrick Laforge just diss Jim Balsilie in an article that incorrectly identifies him as Cal Nichols in the photo? Who does this guy think he is exactly?
*cocks head back and laughs heartily at Laforge having the sack to diss Balsillie*
In any event this second take on things should dispel any concerns that Katz is doing anything beyond expanding his sports empire. If we had to bet – and bet we often do – we would say that Hamilton is going to get an NHL Team sooner or later, Katz knows this from his Uber-balling Owner meetings and is taking control of the arenas to later flip them to the evential owner of the Hamilton team at a profit.
And that is the story of how Katz made million #3,466.
*CUE DEEP OIL INSANITY*