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

[Panteras]

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!!

I know my man, all joking aside. Such is the state of our society. The worst part is the blue collars also eating a shit sandwich that simp for these psychopaths.

 

[Score08]

According to documents, Katz's real estate group is trying to take back or not give a 5million dollar donation that they originally promised and negotiated with Boyle Street Community Service.

From my understanding, Katz group bought the downtown property from Boyle Street Community Service , which houses the homeless in Edmonton. Part of the negotiation was this donation to help with the relocation of Boyle Street Community Service.

Katz is arguing he shouldnt have to provide the 5 million dollar donation anymore because the Non-profit organization didnt do enough fundraising on their own.

Katz networth btw is 4.4 Billion.

https://www.cbc.ca/news/canada/edmonton/katz-group-launches-court-battle-with-edmonton-homeless-organization-over-5-million-donation-1.7109439

And Trudeau couldn’t kick in the last 1.5 million? How much money is the Canadian gov raking in taxes, why aren’t they helping out the homeless? Why is it up to a private citizen to fund a homeless shelter?

 

[DingerMcSlapshot]

Katz is a gross human.

 

[Edgelord]

I wonder if its a case where the 5 mil was pledged as a part to pay for x or y and they didn't meet their end. So that would mean the 5 mil wouldn't be used for what he intended it for.

 

[FU Shoresy]

This is kind of the crazy part to me. Why would Katz's group agree to that kind of stipulation? It just encourages them NOT reaching their goal.

It would be like a parent saying, "If you don't do your chores by the end of the day, we'll buy you a new PS5". What does the parent think will happen?

I would have thought instead the agreement would be if the Boyle Street reached a certain amount in their own fundraising, THEN Katz would kick in an additional $5 million.

Exactly, he would have been better off. Doing a % match on the funds the group generated. With a cap. It would have saved him a lot of negative press.

 

[Saltcreek]

On the surface it looks like bad optics/PR for Katz .. but there are obviously more details and complexities to it. Particularly if they were contractually obligated.

Still, on fact of law, I wonder what "not putting effort" means in the context of their agreement. Seems like there is room for interpretation here.

It is a very poorly written article that lacks any detail. Any large corporation with a competent legal team would have very clear stipulations and definitions written into the contract so there would not be any ambiguity. The article briefly mentions one such stipulation which was the regular updates.

We will see how it plays out in court but I find it absolutely hilarious that people think Katz should just pay out money because it is a charity - if they didn't fulfill their contractual obligations then why should he pay?

 

[UrbanImpact]

Did OP even read the article he posted? This dude posts as much about the Oilers as he does his own team, it’s embarrassing

what exactly did i misconstrued?

 

[kingsholygrail]

Both the Katz Group and Boyle Street declined interviews for this story, but provided written statements saying they're in the midst of trying to resolve the dispute through a private arbitration process.

Nothingburger.

 

[Enniskillen]

Lol, classless organization. Gamblers, drunks, wife beaters, MILF devourers, and crooks are more than welcome.

 

[Tobias Kahun]

Lol, classless organization. Gamblers, drunks, wife beaters, MILF devourers, and crooks are more than welcome.

Drinking and liking older women makes you a classless organization?

Dont you cheer for a team that has their best player mooning female security guards in the offseason?

 

[BB79]

Lol, classless organization. Gamblers, drunks, wife beaters, MILF devourers, and crooks are more than welcome.

Stop talking about the Leafs in this thread, way off topic

 

[mkatcherin00]

Sounds to me like the agency breached the contract. Was offered consideration on more than one occasion, and likely doesn't have the business acumen or wherewithal to meet their obligations. Not surprising from a non profit.

This is what happened, but people like piling on other people. In all walks of life

If I was Katz, I would have made sure that I just dealt with this and forgave the five million.

It's easy to talk about other peoples money, but he's a billionaire. Not good optics.

The agency did not live up to the agreement, but he could morally just forget about it. It's not going to hurt him

 

[UrbanImpact]

This is what happened, but people like piling on other people. In all walks of life

If I was Katz, I would have made sure that I just dealt with this and forgave the five million.

It's easy to talk about other peoples money, but he's a billionaire. Not good optics.

The agency did not live up to the agreement, but he could morally just forget about it. It's not going to hurt him

" did not do enough fundraising" thats highly arbitrary....

From my understanding is they raised 7mil and came up 900k short....

Thats just greedy petty businessman.

Cant say he is stupid though, he got Edmontonians to pay for his stadium and wealth.

 

[Captain97]

NFPs are not always some goody goody organizations that are always in the right. If Katz claim is legit I would want the money back too.

If we have a contract and you F*** with it the contract isn't valid anymore.

Edit: i think he should then immediately give the money to another NFP organization that isn't trying to F*** with him.

 

[mkatcherin00]

" did not do enough fundraising" thats highly arbitrary....

From my understanding is they raised 7mil and came up 900k short....

Thats just greedy petty businessman.

Cant say he is stupid though, he got Edmontonians to pay for his stadium and wealth.

PR wise the people he has working for him are stupid

Him too for letting it be filed, but he is not doing anything illegal here.

I think the Oilers kicked in another ten million on top of the 5 they got from him already.

The new place they want is around 29m

Talk about bad PR, being cheap, etc, but don't agree to things and not follow through with them.

Katz can be whatever he is, but he donates a lot within the city

 

[Cursed Lemon]

Wtf kind of weird-ass contract is this

"If you don't make enough, then I'll donate more. But don't you dare make one cent less than [arbitrary amount]."

 

[Incognito]

Not surprising. There’s no such thing as an ethical billionaire.

 

[TheImpatientPanther]

I fine some them 1st round picks for sure.

 

[Tobias Kahun]

Not surprising. There’s no such thing as an ethical billionaire.

They dont get rich by being nice.

 

[AnInjuredJasonZucker]

Not surprising. There’s no such thing as an ethical billionaire.

This x1,000,000,000

 

[Cynick]

The following has nothing to do with hockey or the Edmonton Oilers:

Boyle Street Community Services is a wonderful organization with values that I wish more agencies in the sector had (both in Canada and the US). Katz can get ****ed.

 

[PBandJ]

Katz lives in Edmonton

No he doesn't. He lives in Vancouver.

 

[ghostingtaro]

the rich get richer the poor get poorer

 

[1989]

I fine some them 1st round picks for sure.

What does Ottawa or Arizona have to do with this?

 

[Three On Zero]

Not surprising. There’s no such thing as an ethical billionaire.

This is the real answer. Katz is scummy but so are 90% of the rich