January 03, 2008

Possible sale causes split in Oilers ownership

A split has appeared within the Edmonton Oilers' owners group as they prepare to decide whether to sell the NHL team to billionaire pharmacy tycoon Daryl Katz, keep the existing community ownership arrangement or look for new investors. Last month, Cal Nichols resigned as chairman of the investors group while offering a strong endorsement of the latest offer from Katz, who was born in Edmonton and owns the Rexall Pharmacy chain. But Bill Butler, the new chairman of the investors group, held a news conference yesterday to say they've been advised by lawyers not to accept Katz's offer of $188 million.

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