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| ''Cal Nichols'' spearheaded the group which would later become the ] which owns the ]'s ]. | ''Cal Nichols'' spearheaded the group which would later become the ] which owns the ]'s ]. | ||
Revision as of 20:11, 23 January 2008
Cal Nichols spearheaded the group which would later become the Edmonton Investors Group which owns the National Hockey League's Edmonton Oilers.
Bio
Born in Paradise Hill, Saskatchewan, Cal started his business career in 1962 as the Imperial Esso Agent in St. Walburg, Saskatchewan. In 1969, Cal and his wife Edna moved to Edmonton. Over the next thirteen years Cal would pursue 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, Cal 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, Cal 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. Cal sold substantially all of Gasland’s petroleum marketing business in 1996, but retained Gasland Properties Ltd., he has therefore shifted his focus to developing that company’s various holdings. In May 2002, Cal was inducted into the Alberta Business Hall of Fame.
Edmonton Investors Group
Cal is best known locally for his desire to retain NHL hockey in Edmonton. In 1996, Cal 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.” Cal started his tenure as chairman of the EIG board in 1997.
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 7th, Daryl Katz made a 3rd offer for the team of $185 million. Cal Nichols, spokesman for the EIG, said it amounted to a hostile takeover, and had caused divisions within the EIG.
On December 13, 2007 Daryl Katz submitted a 4th formal offer to the 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 13th 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 in January, 21st 2008.
Giving Back to the Community
Cal has always found a way to give back to the community in which he lives and works. Cal served as town councilor and President of the Chamber of Commerce while living in St. Walburg. He was also captain of the senior hockey team, and in December 2002 the St. Walburg community honoured him by retiring his jersey. Numerous Edmonton charities have been the beneficiaries of his effort and money. In his capacity as Chairman of the Oilers ownership group Cal devotes many hours to public service commitments including fundraisers, charity golf tournaments, speaking engagements and public appearances. In May 2003 he was the recipient of the Queen’s Golden Jubilee Medal from the Governor General of Canada for his exemplary service to his community and Canada as a whole.
References
- "Profile of Cal Nichols]".
- "How a group of hometown fans and their financial advisers kept the Oilers in Edmonton". camagazine.com. Retrieved 2008-01-23.
{{cite web}}: Unknown parameter|authors=ignored (help) - Staples, David (2005-10-02). "How Citizen Cal Nichols saved NHL hockey in Edmonton". Edmonton Journal. Retrieved 2008-01-23.
- MacKinnon, John (2007-05-06). "Oilers not for sale but bid to buy team won 'a lot of support'". canada.com. Retrieved 2008-01-23.
- Hicks, Graham (2007-12-13). "CITY OWES HUGE THANKS TO CAL NICHOLS AND THE OILER OWNERSHIP GROUP". Edmonton Sun. Retrieved 2008-01-23.
- "Emergence of low-profile Edmonton developer Bill Butler creates online buzz among fans". Edmonton Journal. 2008-01-09. Retrieved 2008-01-23.
- "Daryl Katz absent, owners of Oilers weigh bid to buy team". Edmonton Sun. 2008-01-21. Retrieved 2008-01-23.