Behind every billionaire there is a story!

Oilers Sold to Edmonton Billionaire in $200 million deal

The Edmonton Oilers have a new owner, pending approval from the NHL.The 34-member Edmonton Investors Group agreed Tuesday to sell 100 per cent of its shares to local pharmacy billionaire Daryl Katz in a deal worth about $200 million.

”This is a terrific level of support that will enable us to move forward with the process of securing NHL approval and conclude this transaction,” said Katz in a news release.

”Having an advisory board lets us capture the best of both worlds. It brings together the vision of an entrepreneurial owner with active and ongoing counsel,” said Katz, who will hold a conference call Wednesday to further discuss the deal.

read the rest published by NY Times here:

http://www.nytimes.com/aponline/sports/AP-HKN-Oilers-Sale.html?_r=1&scp=1&sq=billionaire&st=nyt&oref=slogin