Edmonton Oilers Owner Gets Ranked Among Richest Canadians
The Edmonton Oilers are enjoying a great run of success right now both on and off the ice, and Daryl Katz is better off than ever before for it.
MacLean's magazine recently published a list of the country's richest people. Oilers owner Daryl Katz was ranked the 29th richest Canadian, with an estimated worth of $5.84 billion.
Katz made his fortune building Rexall, a Canadian drug store chain, but sold his stake in the company in 2016. Katz bought the Oilers back in 2008 for a price of $200M, and the team's worth has skyrocketed to $2.4B, an increase of over 50% from last year. Safe to say, it was a good investment from Katz.
Like any other sports owner, Katz and the Oilers Entertainment Group have made some unpopular choices with fans over the years - like advertisements on jerseys, ticket price hikes, concessions price hikes, and more.
However, Katz was able to secure the construction of Rogers Place and the surrounding district in Edmonton. It's a world class arena and facilities for the players, and a major reason why the Oilers have had major growth in recent years. Tori contrast, their provincial rivals are clearly having problems with the outdated Saddle Dome.
Oilers fans probably don't care at all for the personal success of the team's owner, but it's still much more preferable to an owner having financial trouble and cutting spending.
By all accounts, the Oilers are ready and willing to invest even more resources into the team's success, and that is the good news for fans. Hopefully, the ticket price increases and ads on jerseys are paid back to the fans with another Stanley Cup.
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