If you ever had any lingering doubts that the Edmonton Oilers are a good investment, especially when you give them free arenas, Edmontonian billionaire Daryl Katz has come out of nowhere to bid for the team (not to mention that the Ontario Teachers' Pension Plan sniffing around, openly talking about investing into a possible Oilers+arena package)
Katz, is offering $145 million in an offer for shares of the company that owns the Oilers, although Forbes has the team pegged at $161.7 million. God knows how much that value went up with a brand-new, half-billion Oilers casino/restaurant/god-knows-what/arena facility in the team's pocket. Of course, the offer doesn't seem like much, although (as Tyler points out) there's a few Oilers investors eager to get out of the partnership, for reasons unknown.
Of course, I'm no Wizard of Finance (my biggest investments so far have included 100 shares of Stelco and a guitar amp, both purchased in a fit of pique), but I'd be shocked if the team sold for so little.
Adding to the weirdness is The Journal's part ownership of the team, and how a story involving a paper which is privy to the offer could be so sketchy on the details ("It's not known what additional conditions may be attached to the Katz bid, including whether it is contingent on securing 100-per-cent ownership of the team, or a simple majority stake.") I'm looking forward to hearing more dirt on this...