EDMONTON, Alberta (AP) -The Edmonton Oilers are not for sale.
That was the message Tuesday from Cal Nichols, chairman of the 33-member group that owns and operates the NHL franchise.
Nichols said the Edmonton Investors Group resoundingly rejected the latest bid of $176 million from local tycoon Daryl Katz to buy the team. He said they also passed a motion declaring the team is not for sale.
``This is not about dollars. This is about Edmonton,'' Nichols said at a news conference.
Katz promised to help bankroll a new rink downtown estimated at $475 million, build a new training facility and spend the maximum amount on player salaries allowed under the league's salary cap.
The Edmonton Investors Group had 38 members when it purchased the Oilers for $95 million nine years ago. Forbes values the club at $146 million.
The team has nearly reached its maximum of 14,000 season tickets.

Top NHL Public Bets

NHL Top Stories

Thumbnail Montreal surprisingly mediocre on road Home ice has been very good to the Blues so far this season. But will the NHL’s top team put an end to the fun shortly?
Thumbnail Panthers vs. Bruins Prediction The Panthers have been a horrible bet against the Bruins but will they pull off the upset tonight at 7:00PM ET in Boston?
Thumbnail Detroit hopes to hold off surging Pittsburgh So far this season, nothing has been easy for the Red Wings. Add tonight’s matchup against the explosive Penguins to the list.
Thumbnail Caps trying to regain footing out East   Washington didn’t exactly end the month of November on a stirring note. But can the reigning Presidents’ Trophy winner return to form against the Islanders?
Thumbnail Luongo attempts to give Florida a jolt A new era of Panthers hockey begins tonight. But can the Blackhawks stand tall and deliver yet another stellar performance at the...

NHL Team Pages