Just a couple of weeks ago, former Edmonton Oilers part-owner and chairman Cal Nichols passed away. Nichols is not the only former NHL principal owner the hockey world has lost recently, nor the most wealthy. But a strong case exists that he is the most influential of any of them.
Without Nichols’ efforts, the history of the Oilers franchise turns into a completely different one. They would have completed a cycle of all four former WHA teams leaving their original cities for new American locales, three of them non-traditional hockey markets. They would have left behind the most recent true hockey dynasty. And a generation of Edmonton hockey fans wouldn’t see the Oilers as their city’s own.
Yet, it feels like the story isn’t told enough, of how the Oilers are still in Edmonton thanks to Nichols. So it’s worth looking back on one more time, and seeing just how massive his impact was. Cal Nichols is the key reason why the Oilers remain in Edmonton to this day.
S.O.S. meant Stay Oilers Stay, as Pocklington faced financial peril
We covered the whole entire Peter Pocklington era in our Franchise History Lookbacks series previously. What it showcased was that, as Pocklington began to lose money, the Oilers began to suffer for it. It was a huge factor in the dynasty core being broken up.
As it became obvious that Pocklington would have to get his finances in order, the focus shifted as well to dwindling Coliseum attendance. Stepping forward to prove that Edmonton deserved to keep its NHL franchise was businessman Cal Nichols, who led a season-ticket drive to boost the team. Under the “Stay Oilers Stay” moniker, the drive successfully bought the Oilers more time in Edmonton.
Stay Oilers Stay wasn’t the long-term solution, ultimately. Pocklington was still looking to sell the Oilers to an outside source, and the franchise remained under threat of relocation. But it at least wouldn’t happen at the same time as the moves of the Winnipeg Jets or Quebec Nordiques.
That outside source, by the way, was Houston businessman Les Alexander. And he becomes a major part of the climax to this saga, during the 1997–98 NHL season. So too, however, would Nichols.
37 investors join forces to save the team from relocation
Fortunately for Edmonton hockey fans, the last lease Pocklington signed at the Coliseum was a clever one. A clause in the lease stipulated that, if Pocklington were to sell the team to someone outside Edmonton, local sources would have six weeks to match the offer. This prevented an overnight whisking-away of the club, that many fans likely, and rightfully, were worried about.
Alexander’s desire to give Houston a new Oilers team two years after the first one (the NFL outfit) left never wavered. And, as Pockington ran out of options, a sale to Alexander was imminent, and eventually agreed upon. Hence, the clock started ticking.
Enter Nichols again, who wasn’t going to let the team leave Alberta’s capital city without a fight. He alone didn’t have enough capital to match the $107M sale amount. What he did have, and what he leveraged successfully, were his business connections.
Gradually, but as urgently as possible, he assembled a legion of investors to pool together enough money to buy the team. Known as the Edmonton Investors Group, they featured everyone Nichols could bring on board, from philanthropists such as Bruce Saville to the famed comic-book artist, Todd McFarlane (no relation to this observer). Saville has a multi-sport facility at the University of Alberta named in his honour.
Crisis averted; Oilers remain in Edmonton
It was a lengthy process that ran literally into the 11th hour. But just before the six-week window closed, the EIG completed its assembly, and presented its deposit. At pretty much the last second, they saved the Oilers from relocation.
Credit, as much as we don’t want to give it to him, should also go to Gary Bettman in this stage. Bettman, and the NHL as a whole, generally frowns upon ownership collectives of the EIG’s size holding the NHL clubs. However, Bettman made an exception here, wanting to not see a third Canadian team relocate in four years. He, along with the league’s Bosrd of Governors, approved the EIG’s purchase of the Oilers, making their stay in Edmonton official, and lasting.
A decade of competitive Oilers hockey results in the sale to Katz
With the team’s position in the City of Champions solidified, the effort now turned to sustaining the on-ice product. The Oilers of 1996–97 and 1997–98 were put together by the same Glen Sather who guided the dynasty Oilers the prior decade. And Sather’s rebuild worked well, as both squads pulled off stunning first-round upsets of the Dallas Stars and Colorado Avalanche.
For 1998–99, the Oilers mostly stayed the course personnel-wise, which resulted in a third straight playoff berth. After this one ended in the first round instead of the second, however, the freshly-retired Kevin Lowe would take over as Head Coach for 1999–2000. Again, a defeat at the hands of the Stars was their fate.
The 2000 offseason was where the EIG’s fingerprints really became evident on the Oilers. As Sather left for New York, Lowe was promoted to General Manager. Fellow former glory-days Oiler Craig MacTavish took the Head Coaching reins, and off went the team into the 21st century, personnel refresh largely complete.
Lowe and MacTavish both remained in their positions throughout the rest of EIG’s ownership reign. All that changed were players and assistants, and while it meant first-round exits for a few more years, the salary-cap era eventually came along. With it came the epic 2006 playoff run that is still talked about to this day.
The 2008 sale of the team to Katz
Daryl Katz came along to purchase the Oilers in 2008, and while Katz is a polarizing figure, that sale was needed. Nichols, behind the scenes, did a Herculean job in keeping all members of EIG together for a full decade. Katz’s acquisition of the team eventually led to Rogers Place and the Ice District being built, ensuring the Oilers are here to stay for multiple more decades. None of that happens if EIG still owns the team.
Nichols kept the team in the city, kept the ownership group together, and kept the franchise competitive. By selling to Katz, Nichols and the EIG continued to keep the Oilers in Edmonton. And for all of those reasons, Nichols should be feted far more than he has been to this point. He is why the Edmonton Oilers remain, and will likely forever be, the Edmonton Oilers.
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