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Daryl Katz

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Daryl Allan Katz (born 1962) is a wealthy Edmonton philanthropist and businessman. He is chairman and chief executive officer of The Katz Group, one of North America's leading drug store operators with over 1,800 stores and owns and operates Canada's only national mail order pharmacy business, Meditrust Pharmacy Inc., one of Canada's largest institutional pharmacy operations as well as the owner of the Edmonton Oilers, and his company The Katz Group (through subsidiary Rexall) currently has the naming rights on the Oilers' home arena (although the Oilers do not own it). Katz is a former lawyer. He currently resides in Edmonton, Alberta.

Daryl Katz' net worth is reported at C$2.43 Billion [1] which makes him the 17th richest person in Canada. Through The Katz group, he has business interests in retail pharmacies, pharmaceutical distribution, multiple sports teams, event production, and property development. The Katz Group also has naming rights to Rexall Place (Edmonton's NHL Hockey Arena).

Katz reportedly maintains a small circle of highly paid advisers who run Katz Group. Rexall Pharmacy is run from Ontario, while other subsidiaries of Katz group maintain private headquarters separate from Katz Group itself.[2]

Through Rexall Sports - the sports division of the Katz Group, Daryl Katz owns three major sports franchises.

In May 2007, Katz made a $145-million bid to buy the Edmonton Oilers franchise, which the owners of the team, the Edmonton Investors Group (EIG), quickly rejected, stating the team was not for sale.

In July 2007, he made another bid for the Oilers of $185-million, which was turned down by the Edmonton Investment Group (EIG) on August 7, 2007.[3] On December 12, 2007, Katz made an offer of $188-million to the EIG. The Board of the EIG announced in January 2008 that it would again recommend to its shareholders to reject this latest bid.[4]

On January 28, 2008, Katz increased his offer to $200 million and extended the acceptance deadline to February 5, 2008, at which time Katz was notified by the EIG that all its members agreed to sell the Oilers to him, pending league and financial approval.[5] On June 18, 2008, Daryl Katz received the final OK from the National Hockey League to purchase the Edmonton Oilers, and then on July 2, 2008, he was officially announced as the owner of the Edmonton Oilers during a Press Conference at Rexall Place, where he was presented with an Edmonton Oilers Jersey with the number "08" and his last name patched onto the back.

Katz has hired a team of architects, engineers, consultants, and promoters to visualize a plan for a new arena for the Oilers, which he hopes the city will build. Through a subsidiary of Katz Group, presently derelict lands in downtown Edmonton have been purchased. Katz envisions a sports district. He has proposed to spearhead private development of condos, hotels, and entertainment venues in this area - if the city builds the arena. Controversy over the level of government funding, if any, that should be put in to the arena project is ongoing in Edmonton.[6]

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