August 7, 2007.
"This morning, our shareholders voted resoundingly to reject this offer," - Cal Nichols
Wonder what the ''collateral damage'' Nichols is talking about? People realizing the truth on the EIG's finances? Their ability to spend to the cap? Their ability to fund a new arena primarily by themselves?
I still believe the EIG made a good business move for themselves - the Oilers are profitable, and they will still be able to get away with taxpayers significantly funding the new arena under the ''It-benefits-the-whole-city/economy-card" propoganda
What I can't stand is this:
“This is not about dollars. This is about Edmonton. An ownership group is best-suited for Edmonton and the Oilers.”
Later in the Press Conference, Nichols used the survey results on season ticket holders preferring an ownership group as a defensive tool.
Instead of admitting the offer is not enough in their opinion, they had to play the ''We're-doing-it-for-YOU'' card. How many times can they insult the intelligence of Edmontonians? Again and again. It's like a carousal. It goes up and down, and around. Circular. With the music. The Flow. All good things - NOT.
Katz has a different view
Nichols said the offer to buy the Oilers was unsolicited but the Katz group disagrees, claiming he was told the EIG would be willing to listen to offers as long as they were $165 million or more.
"We're going to have to agree to disagree with Cal on a few key points, including the value of the offer and whether it was truly unsolicited as he has said," Katz spokesman Josh Pekarsky told TSN. "But fundamentally, the EIG has said the team is not for sale so that's the end of the story."_________
I believe him on the unsolicited bit. Ritch Winters also confirmed it in the past week on Bob Stauffer's show on TEAM 1260. I believe the EIG was seeking the 200M+ that the likes of Tampa Bay and Nashville are/were attracting.
Can't really comment on the value of the offer tidbit. Is Cal is referring to the after-tax amount, after utilizing optimal tax planning?
In any case, EIG's credibility isn't hot at the moment. It's a hard time believing ANY of their claims.
Cue, the bashing.