National Hockey League News

Edmonton ownership group rejects purchase offer

Aug 7, 2007, 20:25 GMT

Edmonton, AB - The Edmonton Oilers ownership group has rejected a purchase bid and chairman of the 33-member group, Cal Nichols, stated the team is not for sale on Tuesday.'We were presented with an offer,' said Nichols at a news conference. 'This morning our shareholders voted resoundingly to reject this offer.'A deal was put forth by Daryl Katz, a local tycoon, to take control of the team from the Edmonton Investors Group, which purchased the Oilers nine years ago for $100 million. Forbes values the club at $146 million.After stating that EIG rejected the offer, the group passed a motion declaring that the team will not be sold.'This is not about dollars. This is about Edmonton,' Nichols said.© 2007 The Sports Network

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