Thursday, August 16, 2007
Let's Be Clear, Here
No, no, no, no, no. James, the Edmonton Oilers are not "community-owned." The Edmonton Investors Group is made up of about 30 private investors. The "community" of Edmonton has zero ownership in the franchise. Furthermore, many of these private investors do not live in the Edmonton area. Or even in Canada. Nor do these private investors operate under a "not-for-profit model." I can not speak to the situation in Kamloops, but the scenario you and other journalists have recently painted of the Edmonton Investors Group is pretty misleading. To repeat: not community owned. Private investors, making money. Thank-you. Have a nice day.
Labels: New Arena
# posted by andy grabia @ 3:51 pm 
Comments:
Fair enough. My understanding of the Blazers' situation is that it's private investors who don't make any money.
I guess the phrase "community-owned" gets thrown around a lot because its a big group of guys who got in it originally to "save the team." I didn't realize there was foreign investment in the Oilers.
Actually, the "community" angle is the newest PR strategy from the EIG to sell in the idea of "community" participation when it comes time to finance a new arena. Because, the EIG has neither the inclination nor the collective pocketbook nor the financial connections to go it on their own.
Unlike that bastard who wants to buy the team. Who by the way grew up, went to school, and apparently is trying his damndest to contribute in the "community".
Um, it might just be me, but I'm pretty sure it's not mirtle's style to carry anyone's mail, especially cals'.
James Mirtle said...
Fair enough. My understanding of the Blazers' situation is that it's private investors who don't make any money.
Somehow I doubt that.
I guess the phrase "community-owned" gets thrown around a lot because its a big group of guys who got in it originally to "save the team." I didn't realize there was foreign investment in the Oilers.
It gets thrown around irresponsibly.
You don't need foreign investors to fuck over a city. Locals tend to do a fabulous job all by themselves.
A few comments here:
• If the EIG is truly a "community" group, then it's clear that the Oilers community extends far beyond the City of Edmonton's borders, as a number of the investors reside outside of Edmonton, notably a handful from Lloydminster. Therefore, I think it's only fair that they ask every Northern Alberta municipality to help fund a new arena.
• Wikipedia has a list of the EIG as of 2001. Note that about 17% of the EIG is owned by numbered companies, not identifiable organizations or individuals. How's that for transparency? I feel like this group is a lot more accountable than the billionaire who's name and company we know, and who has the most identifiable house in Edmonton. But maybe that's just me.
• On that note, anyone who's tried to vilify Darryl Katz should be ashamed themselves. What exactly did he do wrong, besides express a willingness to spend as much as allowed to field a competitive team, and put $100 million of his personal money into a new hockey arena? While the decision to make all this public could be seen as questionable, if the Oilers are really "community-owned", shouldn't the community have a chance to hear what the prospective owner is going to do for the club?
Darryl Katz is a lifelong Edmontonian who has decided to stay here despite the fact that his riches could take him anywhere in the world (also, the Katz Group also probably gives back to charities and the community more than Gasland ever did). It's embarrassing for me as an Edmontonian to hear people question his committment and motives. We need more Darryl Katzes in Edmonton, and the narrow-minded thinking of the Kerry Diottes of the world isn't going to encourage them to settle here.
• Finally, let's be clear on this whole reclusive billionaire thing. It's his own goddamn decision how much he wants to show his face in public. He's a citizen who owns a privately-held company, (and was making a play to buy another privately-held company), and unlike a public official who is accountable to voters, has no obligation to be seen or heard in public. The only difference between him and you and I is about a billion and a half dollars, so let's drop this issue already.
The only difference between him and you and I is about a billion and a half dollars, so let's drop this issue already.
Well, that's actually a lot of difference, but I get your meaning. As for dropping the issue, I hope you weren't suggesting that I'm the problem. If so, you need to re-read this site.
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Fair enough. My understanding of the Blazers' situation is that it's private investors who don't make any money.
I guess the phrase "community-owned" gets thrown around a lot because its a big group of guys who got in it originally to "save the team." I didn't realize there was foreign investment in the Oilers.
Actually, the "community" angle is the newest PR strategy from the EIG to sell in the idea of "community" participation when it comes time to finance a new arena. Because, the EIG has neither the inclination nor the collective pocketbook nor the financial connections to go it on their own.
Unlike that bastard who wants to buy the team. Who by the way grew up, went to school, and apparently is trying his damndest to contribute in the "community".
# posted by 
: August 16, 2007 9:42 pm
: August 16, 2007 9:42 pm Um, it might just be me, but I'm pretty sure it's not mirtle's style to carry anyone's mail, especially cals'.
# posted by : August 17, 2007 7:45 pm
: August 17, 2007 7:45 pm James Mirtle said...
Fair enough. My understanding of the Blazers' situation is that it's private investors who don't make any money.
Somehow I doubt that.
I guess the phrase "community-owned" gets thrown around a lot because its a big group of guys who got in it originally to "save the team." I didn't realize there was foreign investment in the Oilers.
It gets thrown around irresponsibly.
You don't need foreign investors to fuck over a city. Locals tend to do a fabulous job all by themselves.
A few comments here:
• If the EIG is truly a "community" group, then it's clear that the Oilers community extends far beyond the City of Edmonton's borders, as a number of the investors reside outside of Edmonton, notably a handful from Lloydminster. Therefore, I think it's only fair that they ask every Northern Alberta municipality to help fund a new arena.
• Wikipedia has a list of the EIG as of 2001. Note that about 17% of the EIG is owned by numbered companies, not identifiable organizations or individuals. How's that for transparency? I feel like this group is a lot more accountable than the billionaire who's name and company we know, and who has the most identifiable house in Edmonton. But maybe that's just me.
• On that note, anyone who's tried to vilify Darryl Katz should be ashamed themselves. What exactly did he do wrong, besides express a willingness to spend as much as allowed to field a competitive team, and put $100 million of his personal money into a new hockey arena? While the decision to make all this public could be seen as questionable, if the Oilers are really "community-owned", shouldn't the community have a chance to hear what the prospective owner is going to do for the club?
Darryl Katz is a lifelong Edmontonian who has decided to stay here despite the fact that his riches could take him anywhere in the world (also, the Katz Group also probably gives back to charities and the community more than Gasland ever did). It's embarrassing for me as an Edmontonian to hear people question his committment and motives. We need more Darryl Katzes in Edmonton, and the narrow-minded thinking of the Kerry Diottes of the world isn't going to encourage them to settle here.
• Finally, let's be clear on this whole reclusive billionaire thing. It's his own goddamn decision how much he wants to show his face in public. He's a citizen who owns a privately-held company, (and was making a play to buy another privately-held company), and unlike a public official who is accountable to voters, has no obligation to be seen or heard in public. The only difference between him and you and I is about a billion and a half dollars, so let's drop this issue already.
# posted by : August 19, 2007 1:53 pm
: August 19, 2007 1:53 pm The only difference between him and you and I is about a billion and a half dollars, so let's drop this issue already.
Well, that's actually a lot of difference, but I get your meaning. As for dropping the issue, I hope you weren't suggesting that I'm the problem. If so, you need to re-read this site.
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