[News] Erie Otters file for bankrupcy.... Oilers fault

[Derek Sutton]

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/

[Resolute 14]

Basically, Katz acting like a scumbag.

He tried to sue to force Bassen to sell to him, but a judge nixed that. So he then organizes a private sale of property that doesn't belong to him. All in a pressure-power play to try and steal the team for below market value.

[Muffins]

Originally Posted by Resolute 14

Basically, Katz acting like a scumbag.

He tried to sue to force Bassen to sell to him, but a judge nixed that. So he then organizes a private sale of property that doesn't belong to him. All in a pressure-power play to try and steal the team for below market value.

Yup, All part of a big play involving Hamilton in order to get money out of Edmonton/Alberta to build his shiny new arena.

The guy is a giant ######-nozzle

[corporatejay]

Originally Posted by Resolute 14

Basically, Katz acting like a scumbag.

He tried to sue to force Bassen to sell to him, but a judge nixed that. So he then organizes a private sale of property that doesn't belong to him. All in a pressure-power play to try and steal the team for below market value.

Actually it was a power play to leverage Copps Coliseum against the city of Edmonton to build him a new arena.

[trublmaker]

seems like katz has no interest in hockey just money as evidence by the product he has put together in the grease and now being a tool with the otters

[Resolute 14]

Originally Posted by corporatejay

Actually it was a power play to leverage Copps Coliseum against the city of Edmonton to build him a new arena.

There's more to it than that, otherwise he wouldn't still be trying to steal the team. Katz already suckered Edmonton city council.

[dustygoon]

Katz knows his oil won't end up with mcdavid. So trying to foreclose and seize him as asset.

[Oil Stain]

Katz lent Bassin $4.2 million dollars in 2011 which Basin was to use to keep the Otters going. He was to either sell the Otters to the Oilers or another owner and repay his loan by December of 2013.

He didn't live up to those obligations. Bassin At this point Katz is free to use any legal channels he wishes to seek repayment I would say.


What I think is that after Bassin landed McDavid in 2012 he decided to take advantage of the income generating potential for as long as possible, rather than repay his debts.

[mhsyyc]

Originally Posted by Oil Stain

Katz lent Bassin $4.2 million dollars in 2011 which Basin was to use to keep the Otters going. He was to either sell the Otters to the Oilers or another owner and repay his loan by December of 2013.

He didn't live up to those obligations. Bassin At this point Katz is free to use any legal channels he wishes to seek repayment I would say.


What I think is that after Bassin landed McDavid in 2012 he decided to take advantage of the income generating potential for as long as possible, rather than repay his debts.

You can apply any financial analysis to this you want. Edmonton is NO GOOD