The sale of the Bakersfield Condors to the ownership group that owns the National Hockey League Edmonton Oilers has reached a conclusion.
All that is left is for the parties involved to make a formal announcement.
That will come today in a media conference with Oilers President Patrick LaForge and Condors President Matthew Riley at 10 a.m.
The final pieces of the puzzle went together on Wednesday. First, the ECHL Board of Governors voted to approve the change of ownership at its winter meeting in Philadelphia. Then, in the evening, the Bakersfield City Council voted 7-0 with no discussion to approve a change of ownership, allowing the Katz Group of Companies to run the Condors and have them continue to play at the city-owned Rabobank Arena. The new lease runs through the 2023 season.
The acquisition of the Condors gives the Oilers organization the ability to develop players at all levels of play from major-junior hockey to the NHL. The Katz Group of Companies own the major junior Edmonton Oil Kings who play in the Western Hockey League as well as the Oklahoma City Barons of the American Hockey League, a notch below the NHL.
The level of play in the ECHL is considered to be double-A.
The Condors became the ECHL affiliate of the Oilers this season.
The Oilers purchased the team from Jonathan Fleisig, a Wall Street trader who lives in New York and has been primary owner of the Condors for all 16 years of their existence.
Canadian billionaire Daryl Katz is the chairman of the Katz Group of Companies.
LaForge will speak at a luncheon the Condors are holding today for corporate sponsors.