The Edmonton Oilers’ secret weapon has become even more effective in their quest for the Stanley Cup.

At a press conference held on May 7, 2019, at Rogers Place in Edmonton, Edmonton Oilers owner Daryl Katz discusses the team’s decision to hire Ken Holland as general manager.Ian Kucerak’s photo/Postmedia, file

In 1979, Peter Pocklington convinced, intimidated, and purchased his WHA Oilers (including star forward Wayne Gretzky) to join the NHL, paying a $6 million expansion fee.

The Edmonton Oilers franchise is currently valued at $2.45 billion US ($3.53 billion Canadian) by Forbes magazine, 46 years after it set a record with $388 million US in 2023–24. This makes it the sixth most valuable club in the NHL. Compared to $1.85 billion US last year, there is an increase.

This is great news for Oilers owner Daryl Katz, but it’s also great news for Oilers supporters since Katz is the first Oilers owner with the financial resources and the drive to go above and above for his club as they try to win the Cup for the first time since 1990. He is most likely more strong and capable than ever in leading this team because of his increased financial influence and record 2023–24 revenues.

In 2027–2028, the NHL salary ceiling will soar to $113.5 million. While some Canadian teams may worry that they will struggle to handle the increase, the Oilers appear poised to stick to the cap, as Katz vowed when he purchased the franchise in 2007.

Katz is Edmonton’s secret weapon. He is an owner who has shown time and time again that he is fully committed to supporting the Oilers financially, whether it is by paying AHL players high salaries to keep valuable support players on hand, spending up to the salary cap, or buying out the contracts of underperforming players.