Cal Nichols

Cal Nichols CM
Cal Nichols at an Edmonton Oilers Community Appreciation event, 2006
Born	1941/1942 (age 73–74)[1] Paradise Hill, Saskatchewan, Canada
Nationality	Canadian
Occupation	Businessman
Known for	Former chairman of the Edmonton Investors Group (EIG) that owned the Edmonton Oilers from 1998 to 2007

Cal Nichols CM (born c. 1942) is a Canadian businessman who spearheaded the group which would later become the Edmonton Investors Group (EIG) which owned the National Hockey League's Edmonton Oilers.^[2]

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 Energy, 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.^[3]

Edmonton Investors Group

Nichols is best known locally for his desire to retain NHL hockey in Edmonton.^[4] 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.^[5]

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.^[6] 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.".^[7]

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.^[8] 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.^[9] Assuming the position of chairman of the board was Bill Butler, a minority shareholder & real estate developer.^[10] The EIG will be meeting to decide on the bid on January 21, 2008.^[11]

References