Well it looks like the deal is almost done! Katz will be the next owner of the Edmonton Oilers. Although a few may still hold out, it matters not! Katz is one step away from owning this team; he will be the majority shareholder. He may have 70 % when this is done or more. But the others will have no say if they don’t end up selling. Also, the internal bid by some of the EIG is now off; it has been taken off the table. Can we all say one thing? YES!!!
First, we should all recognize and show our appreciate for a group of Edmonton businessmen led by Cal Nichols who banded together a decade ago and saved this team. I remember those days when it seemed like a forgone conclusion that this team was very close to being sold to a Texan and relocated. However, this group got together and kept this team in Edmonton.
BUT…..let’s not feel too bad for these boys. They’ll be getting back twice their initial investment (probably more than half) so they made out damn good. However, it is time to move on. Katz is the man for this team; the man to take this team to the next level. I’m willing to give him the benefit of the doubt but I do expect changes to be made when necessary. No more hanging onto ineffective management. I’m willing to be a loyal comrade through this rebuild but it should have been a true rebuild from the start instead of flip-flopping between rebuilding and contending (ie: Souray signing). It’ll be interesting to see how involved he will be.
Thank you EIG. Time to pass the torch!!!
