Oilers owner , Darryl Katz taking the Boyle Street Community Services to court over a 5 million dollar donation

[K Fleur]

“Sweaty, oily Gremlin observes his new money maker”

 

[Draiskull]

Don't speculate!!!!

We don't want Katz group shutting down hfboards.

 

[God]

Its very shortsighted to call this a bad deal for Katz. Even if he does end up paying the extra 5 million, he still acquired a piece of landed need to build phase 2 of the ice district. When built out that will be worth hundreds of millions.

I said as much in my message - this is an investment for the franchise given its located next to the arena.

It's a bad deal in the sense that they tied the monetary value to a "fundraising" goal that, at worst, leaves them open to filing stupid litigation like this. Just pay the 5 million and avoid this nonsense. Nobody wants to feel guilty watching McDavid 1v3 other teams.

 

[SupremeTeam16]

It's exactly how the EOCF works.

Their (publicly available) 2019 figures show they brought in 10.3 million dollars (including 6.8 million from the 50/50) and disbursed 6.7 million.

They then got to write off nearly 4.5 million worth of "charitable activities"

Given how much the 50/50 has grown since then, god knows what their 2022 and 2023 books look like.

Katz doesn’t personally benefit from write offs attributed to EOCF, nor do OEG or any of his other businesses.

EOCF is a completely separate entity.

 

[TropicOfNoReturn]

For reference:
$5M is 0.114% of Katz's net worth ($4.4B). For an average person with a net worth of $1M dollars, 0.114% is $1140.

So this would be the equivalent of an "average" person donating $1140, in the interest of a future development/business investment.

 

[OG Eberle]

Okay

And you're gullible enough to believe this obvious fluff piece?

Sinus infections don't make you look like Artie Lange ffs

OT: Lumpens who simp for billionaires are just the worst kind of people.

“Sweaty, oily Gremlin observes his new money maker”

I defer to you, the medical expert then.

Maybe this money wasn't cutting into his cocaine habit, it was cutting into his underage sex habit...

Thanks - *he said standing behind his 3 university degrees for medical training and 15yrs in the industry

I think that picture is hilarious

In the last 15 posts, there are 5 seperate mocking how a person dealing with a life-threatening illness looks.

I've had enough internet for one day. Some of y'all probably kick puppies and laugh at this point too.

 

[K Fleur]

For reference:
$5M is 0.114% of Katz's net worth ($4.4B). For an average person with a net worth of $1M dollars, 0.114% is $1140.

So this would be the equivalent of an "average" person donating $1140, in the interest of a future development/business investment.

Wherever you live truly is paradise

 

[Rubi]

Just from the article alone, I don't understand how anybody is defending Katz here. His people made a bad deal. Why that was even in the deal is beyond me.

He might as well have just paid up X+5 million or whatever instead of the X million he originally paid. The Oilers are one of the most valuable teams in the NHL and I presume the land purchased is to increase that valuation. Consider it an investment. What a stupid lawsuit.

Its not stupid. Its a brilliant lawsuit if you ignore the optics. And most of the bad optics are not acknowledged by Oiler fans (I mean.. look at how many Oiler fans and mostly Oiler fans in this thread, are bending ove backward to defend Katz's reneging).. so in that case does Katz really care?
As others have mentioned its probable that the homeless shelter can't afford to engage in a lengthy expensive lawsuit with a billionaire. Because of that Katz will win in the end.

 

[K Fleur]

Thanks - *he said standing behind his 3 university degrees for medical training and 15yrs in the industry



In the last 15 posts, there are 5 seperate mocking how a person dealing with a life-threatening illness looks.

I've had enough internet for one day. Some of y'all probably kick puppies and laugh at this point too.

Nah puppies aren’t money hoarding net negative on society gremlins

 

[ZJuice]

Not even a pizza party? Wow

I guess he did use a portion of his billions to buy us pizza a few times. But I want more cash not more pizza!!

 

[TropicOfNoReturn]

Wherever you live truly is paradise

Fair point...haha.
I live somewhere where real estate values are very high, and am lucky to have owned my place for a long time...so yeah, factoring that into net worth.

 

[Seachd]

I think that picture is hilarious

Yes, I guess serious health issues are quite funny when they don’t happen to you?

I’m guessing you go to funerals of cancer victims to point at the casket and laugh?

 

[Lazlo Hollyfeld]

Its not stupid. Its a brilliant lawsuit if you ignore the optics. And most of the bad optics are not acknowledged by Oiler fans (I mean.. look at how many Oiler fans and mostly Oiler fans in this thread, are bending ove backward to defend Katz's reneging).. so in that case does Katz really care?
As others have mentioned its probable that the homeless shelter can't afford to engage in a lengthy expensive lawsuit with a billionaire. Because of that Katz will win in the end.

Agreed.

That's how a lot of billionaires essentially win lawsuits whether or not they're in the right. They've got deep pockets and teams of lawyers. It's a game of chicken and the other side doesn't have nearly as many resources when they do the calculation of "how much is this going to cost us vs. amount of money we'd recover if we even win?"

 

[daver]

If it was a for-profit homeless shelter, then this thread isn't made. It would then it would be just a battle between business gladiators.

 

[Rubi]

Yes, I guess serious health issues are quite funny when they don’t happen to you?

Dillon Dube probably agrees with you.

 

[God]

Its not stupid. Its a brilliant lawsuit if you ignore the optics. And most of the bad optics are not acknowledged by Oiler fans (I mean.. look at how many Oiler fans and mostly Oiler fans in this thread, are bending ove backward to defend Katz's reneging).. so in that case does Katz really care?
As others have mentioned its probable that the homeless shelter can't afford to engage in a lengthy expensive lawsuit with a billionaire. Because of that Katz will win in the end.

Ok, so it's stupid.

 

[Three On Zero]

Katz has never been a reputable human being, and people are shocked at this? lol

 

[Reality Czech]

"No soup for you!"
-- Darryl Katz

 

[ArGarBarGar]

You're moving the goalposts and arguing something I'm not.

I've said nothing about not providing services for unhoused or poor. But if you read the article, he's given them $20million already, with $5million more to cover up whatever they didn't fundraise from their efforts. Bit of a different picture than you're trying to paint.

I'm saying if two parties agree to something and there are X-stipulations that require Y-action to occur, I don't think it's fair to say "well, even though we didn't fufill X-stipulations, you should still carry out Y-actions cause you have soooooo much more money than us"

Taxes have no bearing on this argument either. He's a private entity. Not the government.

The only picture I am trying to paint is I don't feel sorry for Daryl Katz having to pay $5 million extra dollars to a homeless shelter, whether he may technically have legal standing or not.

 

[K Fleur]

Yes, I guess serious health issues are quite funny when they don’t happen to you?

I’m guessing you go to funerals of cancer victims to point at the casket and laugh?

If they lived life like a little gremlin money hoarding douche like Katz? Given the opportunity I’d think about it

 

[Rubi]

Getting rich is easy. Staying rich requires sacrifice and ruthlessness. Sucks to be you homeless bums.

 

[FiveFourteenSixOne]

Of course he doesn't want to give away 5 million dollars. That will cut into his monthly nose candy budget.

His appearance is due to some sort of sinus infection that caused him to undergo multiple surgeries, and ruined the tissue. This isn't a Michael Jackson-esque addiction. Mocking his appearance is classless. Ignorance isn't an excuse either.

 

[Bouboumaster]

Wow, Darryl Katz seems like a gigantic piece of shit

 

[Rubi]

"No soup for you!"
-- Darryl Katz

Love the Seinfield Soup Nazi reference.

 

[FiveFourteenSixOne]

The initial deal was announced at the end of 2021. By the end of 2022 Boyle Street had raised 7.6 of the needed 8.5 million. How much did they raise in 2023? Less than 0.9 million if they are asking for the full 5 million.

Why the steep drop off in money raised?

The amount raised in 2023 is absolutely damning.

It certainly gives the impression that they were just going to mail it in and collect the 5 million.