Daryl Katz

Daryl Katz
Born	(1961-05-31) May 31, 1961 Edmonton, Alberta, Canada
Occupation(s)	Entrepreneur, businessman, lawyer
Known for	Founder and chairman of Katz Group of Companies; owner of Edmonton Oilers
Notable work	Development of Rogers Place and Edmonton Ice District

Daryl Allan Katz (; born May 31, 1961) is a Canadian billionaire entrepreneur, recognized as the founder and chairman of the Katz Group of Companies, one of Canada's most substantial privately held businesses with diverse interests spanning pharmacy, sports and entertainment, as well as real estate. The Katz Group holds ownership of the Edmonton Oilers and played a leading role in developing both Rogers Place and the Ice District. Katz previously practiced law in Edmonton.

Early life

Katz was born in Edmonton, Alberta, into a family where his father established Value Drug Mart during the 1970s. He attended a Jewish day school before graduating from Jasper Place High School. Katz completed his undergraduate studies with a BA in 1982 and later earned an LLB in 1985 from the University of Alberta.

Pharmacy business

Following a career in corporate and franchise law, Katz joined forces with his father in 1991 to secure Canadian franchise rights for Medicine Shoppe, launching their first location in 1992 and founding the Katz Group of Companies. By 1996, he acquired the struggling Rexall chain, expanding it to 80 stores by 1998 alongside Medicine Shoppe outlets and independent pharmacies. In 1997, Katz purchased Ontario’s Pharma Plus chain, consisting of 143 stores, for $100 million. While Rexall Pharmacy operates out of Ontario, other divisions maintain separate headquarters.

Katz extended his reach into the United States in 1999 by acquiring Minnesota-based Snyder's Drug Store chain, which had $300 million in sales, followed by the discount retailer Drug Emporium. Snyder's declared bankruptcy in 2003, leading to store sales to Walgreens. In 2004, Katz secured a decade-long naming rights agreement for Toronto’s $45-million Rexall Centre, a tennis and entertainment facility located at York University.

In January 2012, Katz divested Drug Trading Co. and Medicine Shoppe Canada to U.S. distributor McKesson Corporation for $1.2 billion. Later in 2016, approximately 460 Rexall locations were sold by the Katz Group to McKesson for C$3 billion.

Purchase of Edmonton Oilers and Creation of Oilers Entertainment Group (OEG)

In May 2007, Katz submitted an initial offer of $145 million to acquire the Edmonton Oilers, which was declined by the owners, the Edmonton Investors Group (EIG), who stated that the team was not on the market.

He raised his bid to $185 million in July 2007; however, this was again rejected on August 7. On December 12, Katz proposed $188 million but faced shareholder opposition advised by EIG. On January 28, 2008, he increased his offer to $200 million and extended the deadline to February 5; subsequently, EIG consented to sell the Oilers subject to league and financial approvals. Final NHL approval was granted on June 18, 2008, with Katz officially announced as owner on July 2.

In June 2014, Katz Group introduced Bob Nicholson as Vice-Chairman of Oilers Entertainment Group (OEG), a newly formed sports and entertainment entity overseeing Katz’s growing assets including the Oilers and managing operations at Rogers Place, the team’s home venue.

OEG also owns and operates the Edmonton Oil Kings (WHL), Bakersfield Condors (AHL), along with Aquila Productions specializing in film and production services. Nicholson advanced to CEO of OEG in April 2015, taking charge of both business operations and hockey management.

In April 2015, Katz collaborated with Joel Silver to establish Silver Pictures Entertainment, focusing on producing and financing projects across film, television, and digital platforms under OEG’s umbrella. This partnership concluded in 2019 when Silver Pictures resumed independent operations under Hal Sadoff.

Rogers Place and Edmonton Ice District (formerly Arena District)

Recognized as "a community builder at heart," Katz purchased the Oilers with the vision of using a new arena to stimulate downtown Edmonton's revitalization. After engaging the public, Katz Group partnered with the City of Edmonton in a public-private initiative to develop Rogers Place, where the city maintains ownership while Katz Group manages operations via OEG. The city's portion of financing comes from a Community Revitalization Levy, which does not impose additional taxes on residents. Construction commenced in March 2014.

Rogers Place opened its doors in September 2016 and stands among the most technologically advanced sports and entertainment facilities across North America. It boasts Ford Hall, a 24,000-square-foot grand entrance designed for flexible use in both public and private events.

Expanding on the momentum from Rogers Place, Katz Group introduced the Edmonton Arena District (EAD), envisioned as Canada's largest mixed-use development centered on sports and entertainment. Covering 25 acres in downtown Edmonton, this $2.5 billion initiative comprises a 50,000-square-foot public plaza, two office towers, a JW Marriott Hotel, a Gateway casino, more than 1,000 upscale condominiums and rental units, alongside 270,000 square feet of retail space. In 2014, it was revealed that both the City of Edmonton and Stantec would serve as anchor tenants for the office towers, with Stantec’s building planned to be Edmonton’s tallest at 69 storeys.

On July 13, 2015, the Edmonton Arena District was officially rebranded as the Ice District.

Philanthropy

In October 2006, Katz contributed $7 million to support the University of Alberta's Faculties of Pharmacy and Law. This donation, matched by provincial funds, became the largest ever received by a Canadian pharmacy school. The west wing of Edmonton’s Health Research Innovation Facility is named The Katz Group Centre for Pharmacy and Health Research in recognition of this gift. In 2009, Katz donated $20 million to Mount Sinai Hospital in Toronto, establishing The Daryl A Katz Centre For Urgent And Critical Care. Additionally, he has made significant contributions to the Stollery Children's Hospital in Edmonton and has supported numerous public events.

Between 2005 and 2010, Katz and his wife donated upwards of $50 million to various Canadian institutions and organizations, including a $500,000 contribution to the Art Gallery of Alberta.

Personal life

As of November 2022, Forbes estimates Katz' net worth at approximately US$4.2 billion. He is married to Renee Gouin, daughter of Jean Yvon (Ivan) Gouin, founder of North American Construction Group—a prominent Canadian mining and heavy construction company. Their twins, Chloe and Harrison, are founders of Hockey Helps Kids, a nonprofit organization.

Health issues

In 2019, Oilers Entertainment Group disclosed that Katz was confronting a severe antibiotic-resistant bacterial sinus infection. According to Sportsnet analyst John Shannon, Katz was seen carrying an IV bag during the Edmonton Oilers’ 2017 playoff run and underwent three surgeries within ten months to combat this infection, which carries a survival rate near 50%. His current outlook is favorable.

Claims of sexual misconduct

At the beginning of 2017, Brazilian model and actress Greice Santo, along with her spouse, accused Katz of offering financial compensation in exchange for sexual favors. Santo also condemned Michael Gelmon, Katz's cousin and business partner, for supporting Katz and threatening her career prospects in Hollywood if she spoke out.

In July 2022, ballerina Dusty Button and her spouse, who were defendants in a U.S. civil lawsuit alleging sexual abuse, submitted a counterclaim accusing Katz of providing ballerina Sage Humphries with $75,000 for sexual favors. Humphries refuted any claims of a sexual relationship with Katz. By August 2022, the Buttons voluntarily retracted their allegations against Katz; their attorney issued an apology and requested the removal of all related mentions from court documents.

External links

• The Katz Group of Companies