Interesting read on Daryl Katz, the Oilers and Erie Otters

[Replacement*]

A rich businessman doing some wheeling and dealing to get an edge on others... not much to see here.
Im sure he will get back his money that he loaned.

i must have read a different article. The one I read is where a businessman was asked for a loan by another businessman. After a while, the loaner wanted his money back and the loanee is refusing to pay.

It is going to court. I fail to see how katz is the bad guy, not the owner of the OHL team.

Again did anybody read the article? Katz already won the court awarded settlement. This is old news.

This is nothing more than media trying to trump up some kind of story here delivered to a frothing fanbase looking for anything to be mad about.

Katz did nothing wrong here that we didn't already know about (courting Seattle, Hamilton interests) and it must be slow news day or something.

 

[Beerfish]

He's no different than most successful businessmen. I see no reason to get worked up about something that is completely out of my control and that doesn't affect my real passion which is the Edmonton Oilers.

As I said before, his loyalty to the OBC is what irks me the most about him. Everything else is just big corporate stuff that is par for the course for these types of corporate giants. He's a slimeball but whatever. As long as he does what is in the best interest of the Edmonton Oilers, that's all I care about and so far he has failed miserably in that respect.

You are entitled to feel the way you wish. Btw he has repeatedly NOT done whats in the best interest of the Edmonton oilers.

He cares far less about the teams performance than of keeping his well proven dumb ass cronies employed. The only time he will ever change this is if the customer, you, me and everyone else kicks him in the ass and starts not showing up.

If you act like an ass long enough sooner or later you will get tuned in and if the economy stays flat or worse he's going to be in for a surprise when the new arena opens. Good thing he got such a sweet heart deal in that he gets all non hockey revenue as well.

I can't wait for our province to drastically cut infra payments to the city in the next few budgets, when we have committed to building a new rink with our already allotted infra money.

 

[Digger12]

In my opinion there's no such thing as a nice guy Billionaire. Thus, this is what it is.

This article didn't make me like or dislike Katz any more than I already did.

 

[CupofOil]

You are entitled to feel the way you wish. Btw he has repeatedly NOT done whats in the best interest of the Edmonton oilers.

He cares far less about the teams performance than of keeping his well proven dumb ass cronies employed. The only time he will ever change this is if the customer, you, me and everyone else kicks him in the ass and starts not showing up.

If you act like an ass long enough sooner or later you will get tuned in and if the economy stays flat or worse he's going to be in for a surprise when the new arena opens. Good thing he got such a sweet heart deal in that he gets all non hockey revenue as well.

I can't wait for our province to drastically cut infra payments to the city in the next few budgets, when we have committed to building a new rink with our already allotted infra money.

I don't disagree with any of that. I'm just saying that this article didn't do anything to make to affect my opinion of him. He's not a nice guy, he's not a businessman with morals but neither are most successful businessmen. That's why they are successful. It is what it is and I don't see the need to get worked up about it but that's just my opinion of course.

 

[joestevens29]

While I'm not shocked, man does this organization sure jerk around the CHL. Yak to Russia during the lockout, not sending LD to the Raiders and now this.

The NHL is suppose to help the CHL, our organization seem to try screw them any chance we get.

 

[Tarus]

This is just a stupid thing to say.
Every hockey franchise cares more about money than winning.

Hell, I'll point out something even stupider. EVERY business cares more about money than being the best.

If Katz cared about money as much as you think he does, he would want Playoff revenue.

Really good point that gets missed a lot around here. No one who has displayed the level of ruthlessness Katz has in his various business transactions would willingly throw away tens(if not hundreds) of millions in playoff revenue if he only cared about money.

The franchise, along with his childhood party buddies from the Oiler's dynasty who've run it into the ground; are quite clearly a part of what is vanity thing for him.

In my opinion there's no such thing as a nice guy Billionaire. Thus, this is what it is.

This article didn't make me like or dislike Katz any more than I already did.

Agreed

 

[blobloblaw]

I found the article interesting more than anything, and didn't sway my opinion of him one way or the other. You don't become a billionaire without angling for the best deal no matter what.

One thing I'd like to know about Katz is the true story of how he managed to take a tiny storefront pharmacy chain that his Dad started, and successfully gobble up larger chains to become the brand that Rexall is. There is no way that earnings from those smaller operations could solely float those acquisitions, and it seems too risky to me for banks to get involved. Did some of the ex-Oilers help out in some way so he feels indebted to them? Were some major pharmaceuticals or other suppliers involved with lending money? Kudos to him for pulling it all off though.

 

[DreamTheatre]

This article seems like to be an attack on Katz. When I read it, I didn’t see Katz as being a bad guy at all. Basically he wanted to buy the Otters with the intent to move them to Hamilton. The plus for him was that this would put pressure on the city of Edmonton to settle with him. But it wasn’t some takeover of the Otters like they are trying to make it sound. That was the intent, but now this guy doesn’t want to sell after he took the downpayment. right?

 

[MoneyGuy]

In my opinion there's no such thing as a nice guy Billionaire....

Warren Buffett!

Great guy, ethical, humanitarian.

 

[tempest2i]

This is just a stupid thing to say.
Every hockey franchise cares more about money than winning.

Hell, I'll point out something even stupider. EVERY business cares more about money than being the best.



If Katz cared about money as much as you think he does, he would want Playoff revenue.

So hold on, you agree with what I said, but still call it stupid?

The arena deal and the value of the land he controls around the arena are vastly more valuable to him than playoff revenue.

 

[McAsuno]

TL;DR Katz has always been a ******. Nothing new.

 

[Jumptheshark]

It's already in the OT thread, and it fills a narrative if you need it to.

Basically the Oilers were trying to look after themselves, swing a deal and it didn't go well.

What is not mentioned is that the owner dragged his feet when his team landed Connor and has made a mint off of in house sales and merchandising. Not saying Katz is a sweet loveable teddy bear--the Otters owner has done a few things to drag out the sale because of having high priced prospects---Otters were outsides till the last two years

 

[Gone]

While I'm not shocked, man does this organization sure jerk around the CHL. Yak to Russia during the lockout, not sending LD to the Raiders and now this.

The NHL is suppose to help the CHL, our organization seem to try screw them any chance we get.

The reputation of an organization, is usually set from the top down. I wonder how there is any room in the city for anyone else when one considers the size of the ego's in this management/ownership group.

 

[Dorian2]

Great thread. My business acumen is really quite low, but here are a few thoughts.

The way I see it, some rich owner in Ontario calls a favour from Katz. Katz obliges. Dude cannot pay back his loan. Katz goes after money that he is owed.

Seems pretty clear to me.

But wait a minute. Katz utilises the loan (a fairly substantial one, I might add), as leverage to get something that he wants.

Well, if I loan money to somebody for something that they need, I expect a thank you for the loan and payback. Payback doesn't have to come in monetary value though. Could be something I need later, but it will come back to me in trade at the least.

Now if I needed a loan to say...... pay some exorbitant debt that could put me in the black, am I going to call somebody who has a history of taking over a business by pretty much any means possible.

I think not.

Whoever made that call on a loan should give their head a shake. Katz is a shark for that stuff.

 

[Raab]

I found the article interesting more than anything, and didn't sway my opinion of him one way or the other. You don't become a billionaire without angling for the best deal no matter what.

One thing I'd like to know about Katz is the true story of how he managed to take a tiny storefront pharmacy chain that his Dad started, and successfully gobble up larger chains to become the brand that Rexall is. There is no way that earnings from those smaller operations could solely float those acquisitions, and it seems too risky to me for banks to get involved. Did some of the ex-Oilers help out in some way so he feels indebted to them? Were some major pharmaceuticals or other suppliers involved with lending money? Kudos to him for pulling it all off though.

Marrying the daughter of the North American construction owner probably didn't hurt. Still must have made a ton of good deals along the way to get where he is though.

 

[Quinteoilers]

He's ruthless, most extremely wealthy men are. When the new arena is finished how much are the Oilers worth then? $800-900M (if rumoured expansion fees are $300M) There is the end game right there. IMO

 

[Zap Brannigan]

I believe Connor McDavids father Brian was listed as an unpaid consultant to Bassin in all this.

Could get awkward

 

[Hynh]

He's ruthless, most extremely wealthy men are. When the new arena is finished how much are the Oilers worth then? $800-900M (if rumoured expansion fees are $300M) There is the end game right there. IMO

Let's hope he sells.

 

[Bangers]

So let me get this straight:

Posters on this board are completely ok with Katz making a loan deal in order to more effectively extort money out of city council (ie. the Edmonton taxpayer) so that he can:
- line his pockets (while providing little in return)
- keep his cronies employed
- field a s****y hockey team

Because it's 'just smart business'?

 

[tempest2i]

So let me get this straight:

Posters on this board are completely ok with Katz making a loan deal in order to more effectively extort money out of city council (ie. the Edmonton taxpayer) so that he can:
- line his pockets (while providing little in return)
- keep his cronies employed
- field a s****y hockey team

Because it's 'just smart business'?

He's not just a shady **** stain of an owner, he's our shady **** stain of an owner.

 

[rboomercat90]

So let me get this straight:

Posters on this board are completely ok with Katz making a loan deal in order to more effectively extort money out of city council (ie. the Edmonton taxpayer) so that he can:
- line his pockets (while providing little in return)
- keep his cronies employed
- field a s****y hockey team

Because it's 'just smart business'?

You just can't make this stuff up.

 

[Omgitsadam]

You are entitled to feel the way you wish. Btw he has repeatedly NOT done whats in the best interest of the Edmonton oilers.

He cares far less about the teams performance than of keeping his well proven dumb ass cronies employed. The only time he will ever change this is if the customer, you, me and everyone else kicks him in the ass and starts not showing up.

If you act like an ass long enough sooner or later you will get tuned in and if the economy stays flat or worse he's going to be in for a surprise when the new arena opens. Good thing he got such a sweet heart deal in that he gets all non hockey revenue as well.

I can't wait for our province to drastically cut infra payments to the city in the next few budgets, when we have committed to building a new rink with our already allotted infra money.

See i cant wait tell someone investigates the arena deal and finds out Mandel took a kick back to royally screw over Edmonton tax payers lol Im just happy i dont live in Edmonton cause if i had to pay a cent in tax money for this abortion hockey team. But i will say Im done with Hockey in Edmonton, i might go see the new rink when its done so i can laugh at the amount of tax's dollars used lol i should call a cab though no sense on destroying my 4x4 with your crappy roads lol

Nothing worse than a single person getting rich off the backs of the working class and not even trying to hide it

 

[azashi]

So let me get this straight:

Posters on this board are completely ok with Katz making a loan deal in order to more effectively extort money out of city council (ie. the Edmonton taxpayer) so that he can:
- line his pockets (while providing little in return)
- keep his cronies employed
- field a s****y hockey team

Because it's 'just smart business'?

THANK YOU.

The number of nutters who put a billionaire and some threatened-to-be-moved-once-a-decade franchise ahead of their own city is depressing.

 

[oilers9799]

Marrying the daughter of the North American construction owner probably didn't hurt. Still must have made a ton of good deals along the way to get where he is though.

His start up money didn't come from North American Construction. It came from the old government loans in the late 80s the Alberta Government was giving out. From there he built his empire by smart acquisitions. Say what you want about the guy but he has amassed an empire very quickly and has been one of the smartest businessman worldwide in the past 20 years.

 

[McDrai]

His start up money didn't come from North American Construction. It came from the old government loans in the late 80s the Alberta Government was giving out. From there he built his empire by smart acquisitions. Say what you want about the guy but he has amassed an empire very quickly and has been one of the smartest businessman worldwide in the past 20 years.

great businessmen don't hire their friends and give them immunity from getting fired