If Connor McDavid and Dyaln Strome can't save an OHL franchise it is doomed. Long story short it sounds like Katz loaned the team money a few years ago as a pre curser to buying the club, the deal fell thourgh. So now in order to avoid repayment or having the Oilers sieze the skate sharper and team bus, the club has filed for bankruptcy protection, sounds like the American way.
https://ca.sports.yahoo.com/blogs/jr...135759537.html
http://prohockeytalk.nbcsports.com/2...or-bankruptcy/