Oilers ownership group rejects $176M offer from local tycoon

Updated: August 7, 2007, 5:51 PM ET
Associated Press

EDMONTON, Alberta -- 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 ...

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