The Edmonton Oilers look like they'll have a new owner and a big new arena in our city's downtown. Local pharmacy billionaire Darryl Katz has put in another offer to buy the team and it appears the fourth time's a charm.

The head of the Investors Group, Cal Nichol, is supporting the new $188 million dollar bid. Nichol, who was against selling it to Katz the last three times, says conditions have changed. Katz has given the Inve stor's Group until January 31st to vote on and agree to the offer. He also says he'll put another $100 million into a new rink.

Click on the "Watch Video" link for a look and listen in on the unedited news conference with Nichol.