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Edmonton Oilers ownership under federal investigation


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Liam McCormick
May 17, 2024  (9:55 PM)
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Oilers owner Daryl Katz
Photo credit: Edmonton Journal

The Canadian Revenue Agency is investigating the CEO of the Edmonton Oilers ownership group, according to new reports.

Jurgen Schreiber, the German national and CEO of the Oilers Entertainment Group, is under investigation for his financial records from 2016-2019. Schreiber claimed himself a resident of the Bahamas, but continued to report rental and employment income in Canada. Obviously, the CRA picked up on a tax dodge attempt, and are looking for their cut.
Schreiber came up with Darryl Katz group within the Rexall corporation, and since has kept close with Katz's close circle as the official CEO of the Oilers group.
»According to documents, The CRA launched its audit into Schreiber in 2022 to see if he had reported all of his domestic and offshore transactions for the years he claimed to be living in the Bahamas. However, according to the ruling, the CRA has also claimed «that there is no admissible evidence showing that [Schreiber] was legally a resident of the Bahamas.»
-Daily Hive

Overall, this seems a classic clear case of a billionaire making a classic tax dodge. Just like the rest of us, and in fact more so than the rest of us, billionaires simply don't like to pay tax - but they have the resources to claim they live in the Bahamas. This will likely have little to no effect on the Oilers at all, but if the ticket prices and beer prices rise again next season, this might be a small indication as to the reasoning.
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Edmonton Oilers ownership under federal investigation

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