February 6th

OILERS (FINALLY) SOLD TO KATZ

The Edmonton Oilers have been sold to local billionaire Daryl Katz for $200 million, pending the approval of the NHL.

All 34 members of the Edmonton Investors Group agreed Tuesday to sell their shares in the franchise to Katz, who has spent 10 months trying to work out a deal.

The EIG, formed a decade ago to prevent the team from relocating to Houston, struck a 10-year, $20-million deal with Katz for the naming rights to Edmonton's Northlands Coliseum, renaming it Rexall Place in 2003.

But the EIG remained reluctant to sell the team outright to the reclusive owner of the Rexall pharmacy empire — until he made an offer it simply couldn't refuse.

Katz initially offered $145 million for the Oilers, but he sweetened the pot four times to $22,000 a share for 7,492 shares — or double the original purchase price.

Earlier this month, EIG chairman Bill Butler recommended that shareholders refuse to sell until Katz agreed — in writing — to keep the team in Edmonton and commit $100 million to a new facility to replace 34-year-old Rexall Place.

Pekarsky refused to divulge details of the response, but Katz, who lives in a $20-million mansion in the city's river valley, had expressed a willingness to build a training facility for the team at the University of Alberta, and spend the maximum for players under the salary cap.


GAGLARDI, BEEDIE APPEAL CANUCKS OWNERSHIP RULING

Two Vancouver businessmen have appealed a B.C. Supreme Court ruling rejecting their claim that they were denied a chance to buy the Vancouver Canucks.

Lawyers for Tom Gaglardi and Ryan Beedie confirmed Tuesday that they filed an appeal requesting team owner Francesco Aquilini place the Canucks in trust for them.

Gaglardi and Beedie argued that they were partners with Aquilini, but he negotiated behind their backs when he purchased the Canucks and General Motors Place from American billionaire John McCaw for a reported $250 million on Nov. 17, 2004. However, Justice Catherine Wedge ruled Jan. 10 that the trio's relationship was neither a partnership nor a joint venture and ended in March 2004, when Aquilini parted ways with Gaglardi and Beedie — nine months before he bought the Canucks.

Wedge's ruling concluded a five month trial that ended favourably for Aquilini, a local Vancouver area commercial and real estate developer.


JACKETS TRADE GLENCROSS FOR TARNSTROM

The Columbus Blue Jackets traded left winger Curtis Glencross to the Edmonton Oilers for defenceman Dick Tarnstrom.
Glencross joined the Jackets last season following a trade with the Anaheim (LA) Ducks. After appearing in seven games with the clud in 2006-07, he collected 12 points and 25 penalty minutes in 36 games this season. He has registered 13 points and 27 penalty minutes in 45 career NHL games.

Taenstrom has appeared in 287 career NHL games, registering 33 goals and 98 assists for 131 points and 242 penalty minutes with the Oilers, Pittsburgh Penguins and New York Islanders. In 29 games with Edmonton this season, he has five points and 40 penalty minutes.