Cal Nichols
Encyclopedia
Cal Nichols spearheaded the group which would later become the Edmonton Investors Group (EIG) which owned the National Hockey League
's Edmonton Oilers
.
, but retained Gasland Properties Ltd., he has therefore shifted his focus to developing that company's various holdings. In May 2002, he was inducted into the Alberta Business Hall of Fame.
. In 1996, he co-chaired the Friends of the Oilers ticket drive campaign. Starting with a meager 6,200 in season ticket sales Nichols orchestrated more than doubling that number to over 13,000, thus averting the risk of the team moving. In 1997, when the franchise was put up for sale, Nichols spearheaded the bid from a local ownership group by co-ordinating raising the $60 million in equity required to purchase the team. His motivation for this was to see Edmonton remain as a "Major League City." He started his tenure as chairman of the EIG board in 1998.
In the 2006–07 NHL season the Oilers
sold out every home game for the first time, despite missing the playoffs by a substantial margin. The ownership group then reportedly received a C$
145 million offer from local billionaire
Daryl Katz
for the franchise, although Nichols subsequently said the team was not for sale. Daryl Katz
upped the offer to $150 million, but was turned down again.
On August 7, Katz made a third offer for the team of $185 million. Nichols said the attempts to buy the team have caused "collateral damage
" and he hoped the outright refusal brings closure to a vocal debate that has divided the group and the wider community since Katz's first offer. Nichols was quoted as saying "This is not about dollars. This is about Edmonton. An ownership group is best-suited for Edmonton and the Oilers.".
On December 13, 2007, Katz submitted a fourth formal offer to EIG to buy the franchise. The offer was $188 million to the EIG shareholders, plus another $100 million towards the building of a new arena in downtown Edmonton, as well as a new state of the art training facility located at the University of Alberta
. Cal Nichols indicated that he would accept the offer for his share of the team, but that the EIG had to have the owners of 2/3 of the shares agree to the proposal. Cal Nichols resigned as chairman of the board
of directors for the EIG on December 13, 2007. Assuming the position of chairman of the board was Bill Butler, a minority shareholder
& real estate developer. The EIG will be meeting to decide on the bid on January 21, 2008.
National Hockey League
The National Hockey League is an unincorporated not-for-profit association which operates a major professional ice hockey league of 30 franchised member clubs, of which 7 are currently located in Canada and 23 in the United States...
's Edmonton Oilers
Edmonton Oilers
The Edmonton Oilers are a professional ice hockey team based in Edmonton, Alberta, Canada. They are members of the Northwest Division in the Western Conference of the National Hockey League ....
.
Biography
Born in Paradise Hill, Saskatchewan, Nichols started his business career in 1962 as the Imperial Esso Agent in St. Walburg, Saskatchewan. In 1969, he and his wife Edna moved to Edmonton. Over the next thirteen years he pursued various business and career opportunities with Imperial Oil. He was the commission bulk agent for Esso in Edmonton from 1972 through 1981, and served as Chairman of the Esso Agents Prairie Region Advisory Board. During his tenure, this became the largest Esso Agency in Canada. In 1983, anticipating the de-regulation of the crude oil and natural gas markets, Nichols and two associates founded Northridge Canada Inc. which became Canada's largest, privately-held, crude oil and natural gas trading company. Northridge was ultimately sold to TransCanada Pipelines. In 1985, he created Gasland Oil, with its head office in Edmonton. Gasland grew to have over 50 branded petroleum outlets in Western Canada, many with convenience stores and other customer facilities. He sold substantially all of Gasland's petroleum marketing business in 1996 to Husky EnergyHusky Energy
Husky Energy Inc. is a large integrated Canadian energy company based in Calgary, Alberta. Husky's foundation is in Western Canada, where it has extensive conventional oil and natural gas assets, significant heavy oil production and a range of midstream and downstream operations, including...
, but retained Gasland Properties Ltd., he has therefore shifted his focus to developing that company's various holdings. In May 2002, he was inducted into the Alberta Business Hall of Fame.
Edmonton Investors Group
Nichols is best known locally for his desire to retain NHL hockey in EdmontonEdmonton
Edmonton is the capital of the Canadian province of Alberta and is the province's second-largest city. Edmonton is located on the North Saskatchewan River and is the centre of the Edmonton Capital Region, which is surrounded by the central region of the province.The city and its census...
. In 1996, he co-chaired the Friends of the Oilers ticket drive campaign. Starting with a meager 6,200 in season ticket sales Nichols orchestrated more than doubling that number to over 13,000, thus averting the risk of the team moving. In 1997, when the franchise was put up for sale, Nichols spearheaded the bid from a local ownership group by co-ordinating raising the $60 million in equity required to purchase the team. His motivation for this was to see Edmonton remain as a "Major League City." He started his tenure as chairman of the EIG board in 1998.
In the 2006–07 NHL season the Oilers
Edmonton Oilers
The Edmonton Oilers are a professional ice hockey team based in Edmonton, Alberta, Canada. They are members of the Northwest Division in the Western Conference of the National Hockey League ....
sold out every home game for the first time, despite missing the playoffs by a substantial margin. The ownership group then reportedly received a C$
Canadian dollar
The Canadian dollar is the currency of Canada. As of 2007, the Canadian dollar is the 7th most traded currency in the world. It is abbreviated with the dollar sign $, or C$ to distinguish it from other dollar-denominated currencies...
145 million offer from local billionaire
Billionaire
A billionaire, in countries that use the short scale number naming system, is a person who has a net worth of at least one billion units of a given currency, usually the United States dollar, Euro, or Pound sterling. Forbes magazine updates a complete list of U.S. dollar billionaires around the...
Daryl Katz
Daryl Katz
Daryl Allan Katz is a Canadian businessman, philanthropist, and arts patron. With an estimated net worth of $US 2.0 billion , Katz was ranked by Forbes as the 16th wealthiest Canadian and 595th in the world...
for the franchise, although Nichols subsequently said the team was not for sale. Daryl Katz
Daryl Katz
Daryl Allan Katz is a Canadian businessman, philanthropist, and arts patron. With an estimated net worth of $US 2.0 billion , Katz was ranked by Forbes as the 16th wealthiest Canadian and 595th in the world...
upped the offer to $150 million, but was turned down again.
On August 7, Katz made a third offer for the team of $185 million. Nichols said the attempts to buy the team have caused "collateral damage
Collateral damage
Collateral damage is damage to people or property that is unintended or incidental to the intended outcome. The phrase is prevalently used as an euphemism for civilian casualties of a military action.-Etymology:...
" and he hoped the outright refusal brings closure to a vocal debate that has divided the group and the wider community since Katz's first offer. Nichols was quoted as saying "This is not about dollars. This is about Edmonton. An ownership group is best-suited for Edmonton and the Oilers.".
On December 13, 2007, Katz submitted a fourth formal offer to EIG to buy the franchise. The offer was $188 million to the EIG shareholders, plus another $100 million towards the building of a new arena in downtown Edmonton, as well as a new state of the art training facility located at the University of Alberta
University of Alberta
The University of Alberta is a public research university located in Edmonton, Alberta, Canada. Founded in 1908 by Alexander Cameron Rutherford, the first premier of Alberta and Henry Marshall Tory, its first president, it is widely recognized as one of the best universities in Canada...
. Cal Nichols indicated that he would accept the offer for his share of the team, but that the EIG had to have the owners of 2/3 of the shares agree to the proposal. Cal Nichols resigned as chairman of the board
Chairman of the Board
The Chairman of the Board is a seat of office in an organization, especially of corporations.Chairman of the Board may also refer to:*Chairman of the Board , a 1998 film*Chairmen of the Board , a 1970s American soul music group...
of directors for the EIG on December 13, 2007. Assuming the position of chairman of the board was Bill Butler, a minority shareholder
Shareholder
A shareholder or stockholder is an individual or institution that legally owns one or more shares of stock in a public or private corporation. Shareholders own the stock, but not the corporation itself ....
& real estate developer. The EIG will be meeting to decide on the bid on January 21, 2008.