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 2018 Stanley Cup Finals Odds Following back-to-back titles, are the Penguins favored to repeat as 2018 Stanley Cup champions as well?
Thumbnail Penguins vs. Predators Game 6 Pick Can the Pittsburgh Penguins claim the Stanley Cup tonight when they go on the road to face the Nashville Predators in Game 6...
Thumbnail Predators vs. Penguins Game 5 Pick Which team will take the crucial Game 5 of the Stanley Cup Final tonight as the Pittsburgh Penguins host the Nashville Predators tonight at 8PM...
Thumbnail Stanley Cup Finals Game 4 Pick Can the Nashville Predators even up the Stanley Cup Finals when they take on the Pittsburgh Penguins in Game 4...
Thumbnail Stanley Cup Final Game 3 Pick With the series on the move, can the Nashville Predators get on the board in the Stanley Cup Final when they take on the Pittsburgh Penguins in Game 3...

NHL Team Pages