Daryl Katz, the billionaire owner of the NHL’s Edmonton Oilers, is buying the Golden Baseball League’s Edmonton Cracker-Cats.
Daryl Katz, the billionaire owner of the NHL’s Edmonton Oilers, has purchased the Edmonton Cracker-Cats (independent; Golden Baseball League) and will assume the team’s lease at Telus Field.
“We are very excited to be the new owners of the Edmonton Cracker-Cats,” Katz said. “Baseball is a great game that is affordable for the whole family, and Telus Field is a great summer venue. Along with our plans to develop a major entertainment and sports district in downtown Edmonton, this investment is part of a broader commitment to the City of Edmonton and Northern Alberta. It also reflects the ongoing development of Rexall Sports Corp. into a fully integrated sports and entertainment company.”
As you can guess from the name of his sports corporation, Katz made his money owning and operating drugstores, including Rexall. Forbes ranks him #574 on the list of the world’s billionaires, pegging his net worth at $2.1 billion in March 2008.
The business operations of the Cracker-Cats will be managed by the Edmonton Oilers executive team. “We are committed to putting together a first-class product, bringing the fans back to Telus Field and creating both jobs and a new level of excitement in the river valley," said Oilers President Patrick LaForge.
Katz Baseball Corporation is a newly formed affiliate of Rexall Sports Corp, a member of the Katz Group of companies.