PAJHS-Bulldogs ink tentative sales deal

The Port Alberni Junior Hockey Society has reached an agreement in principle with Okanagan Hockey Schools to buy the Alberni Valley Bulldogs

The Port Alberni Junior Hockey Society has reached an agreement in principle with majority shareholder Okanagan Hockey Schools to buy the Alberni Valley Bulldogs of the B.C. Hockey League.

If the sale is approved by the B.C. Hockey League, it will mean the Bulldogs will be 100 per cent owned by the society, director Al McCulloch said. Minority owner Dr. David Ness has already stated publicly that if the society’s purchase is successful, he will also sell his 20 per cent share in the team to the society. The See Group of Companies also owns shares.

A business plan has been drawn up, a term sheet signed and plans submitted to the BCHL board of governors for approval. If the society’s sale structure, business plan and operating budget are approved by the board, the society will own 100 per cent of the team and will hold no current liabilities, the society announced in a press release.

“We’re going to end up meeting with (the board of governors) in the next week or so to talk about it,” McCulloch said. While the BCHL must puts its stamp of approval on the deal for it to go through, McCulloch was hopeful.

“We’re really excited to move forward now,” he said.

The junior hockey society has raised $250,000 and still needs to raise another $50,000 “just to make sure we’re solid through the season,” McCulloch said.

Vendor financing is involved on a long-term basis, with a competitive rate of interest.

Last week an Island-owned company, Vancouver Island Sports and Entertainment Ltd., became the majority shareholder of the Victoria Grizzlies, also of the BCHL.

Their deal is also up for approval in front of the league’s board of governors. McCulloch said the move to local ownership in the south Island will positively affect Port Alberni’s bid.

The PAJHS has asked current directors Andy Oakes, from OHS and Dennis See to stay on as advisors to ensure a smooth transition of ownership.

This will also provide continuity for players, staff and volunteers.

editor@albernivalleynews.com

Just Posted

Two ambulances and a medevac helicopter are on scene at Taylor River Flats rest area on Highway 4 due to a serious motor vehicle incident. (PHOTO COURTESY MAGGIE BROWN)
Highway 4 reopens after accident at Taylor River Flats

Multi-vehicle crash had closed highway to west coast

Robert Gunn of Alberni Climate Action loads garbage discovered in the Alberni Inlet around Cous Creek into his canoe during a recent ocean shoreline cleanup. (SUBMITTED PHOTO)
Alberni Climate Action group creates NIC scholarship

Students attending college full time may apply through NIC

The Rollin Art Centre is holding children’s art camps this summer. (SUBMITTED PHOTO)
ARTS AROUND: Celebrate art in the garden

Rollin Art Centre will host art event on Saturday, June 26

The King Edward Liquor Store sponsored the Alberni Golf Club’s event on June 13. From left to right are Ken Porteous (manager of the King Edward Liquor Store) and Alberni Golf Club Members Don MacGowan, John Robbins and Wayne Cheveldave. (SUBMITTED PHOTO)
ALBERNI GOLF: Doug Cheetham records hole in one

Next Sunday is an open day with the best gross and the best net up for grabs

Francine Cunningham is an award-winning Indigenous writer, artist and educator. (SUBMITTED PHOTO)
Electric Mermaid online event hosts panel of Indigenous writers

Event takes place through Char’s Landing in Port Alberni

People line up to get their COVID-19 vaccine at a vaccination centre, Thursday, June 10, 2021 in Montreal. THE CANADIAN PRESS/Ryan Remiorz
Vaccines, low COVID case counts increase Father’s Day hope, but risk is still there

Expert says people will have to do their own risk calculus before popping in on Papa

Queen’s counsel Paul Doroshenko, a Vancouver lawyer, has been suspended from practice for two months after admitting that his firm mismanaged $44,353.19 in client trust funds. (Acumen Law)
High-profile B.C. lawyer suspended over $44K in mismanaged client trust funds

Queen’s counsel Paul Doroshenko admits to failing to supervise his staff and find, report the shortage

House Majority Whip James Clyburn, D-S.C., center left, reaches over to Rep. Maxine Waters, D-Calif., joined by Speaker of the House Nancy Pelosi, D-Calif., center, and members of the Congressional Black Caucus as they celebrate the Juneteenth National Independence Day Act that creates a new federal holiday to commemorate June 19, 1865, when Union soldiers brought the news of freedom to enslaved Black people after the Civil War, at the Capitol in Washington, Thursday, June 17, 2021. It’s the first new federal holiday since Martin Luther King Jr. Day was created in 1983. (AP Photo/J. Scott Applewhite)
Biden to sign bill making Juneteenth a federal holiday

New American stat marks the nation’s end of slavery

Athena and Venus, ready to ride. (Zoe Ducklow - Sooke News Mirror)
Goggling double-dog motorcycle sidecar brings smiles to B.C. commuters

Athena and Venus are all teeth and smiles from their Harley-Davidson sidecar

Kimberly Bussiere and other laid-off employees of Casino Nanaimo have launched a class-action lawsuit against the Great Canadian Gaming Corporation. (Chris Bush/News Bulletin)
B.C. casino workers laid off during pandemic launch class-action lawsuit

Notice of civil claim filed in Supreme Court of B.C. in Nanaimo against Great Canadian Gaming

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

John Kromhoff with some of the many birthday cards he received from ‘pretty near every place in the world’ after the family of the Langley centenarian let it be known that he wasn’t expecting many cards for his 100th birthday. (Special to Langley Advance Times)
Cards from all over the world flood in for B.C. man’s 100th birthday

An online invitation by his family produced a flood of cards to mark his 100th birthday

Most Read