Peter Pocklington
The oil-rich Alberta entrepreneur who built a hockey dynasty and sparked national debate with the Gretzky trade.
Peter Hugh Pocklington is a Canadian entrepreneur born November 18, 1941, who owned the National Hockey League's Edmonton Oilers from 1976 to 1998. Known affectionately and sometimes infamously as "Peter Puck," he guided the franchise through its historic dynasty years from 1983 to 1990. While a vocal advocate of free-market capitalism, his legacy is inextricably linked to the trade of Wayne Gretzky to the Los Angeles Kings, a move that earned him lasting enmity across Canada despite his conviction that it was the right deal for all parties involved.
- Role
- Owner
- Affiliation
- Edmonton Oilers (NHL)
- Purchase Era
- Late 1970s
- Sale Era
- 1998
- Stanley Cups Won Under Ownership
- 5
Verified Timeline
Lore & Background
Pocklington's journey began not on ice, but in the car lots of Ontario before he moved west to Edmonton by age 29. His first sports investment came in 1976 when he bought part ownership of the World Hockey Association's fledgling Oilers, offering a diamond ring his wife was wearing as a down payment. Within a year, he acquired full control from Nelson Skalbania, who had previously handed him the rights to 17-year-old Wayne Gretzky in the fall of 1978. Beyond hockey, his empire included baseball's Edmonton Trappers, soccer teams like the Drillers and Brick Men, and a vast business portfolio ranging from Palm Dairies to Gainers meatpacking.
In Their Own Story
The defining moment of Pocklington's career arrived on August 9, 1988, when he traded Wayne Gretzky to the Los Angeles Kings. In his 2009 biography, *I'd Trade Him Again: On Gretzky, Politics and the Pursuit of the Perfect Deal*, co-authored by Terry McConnell and J'lyn Nye, Pocklington explained his unwavering belief that the trade benefited the Oilers, the Kings, Gretzky, and the game itself. This conviction remained despite the backlash from a nation that viewed Gretzky as their greatest player. His life was not without peril; in one harrowing incident, he was held hostage for 11 hours by gunman Mirko Petrović, who intended to kidnap his wife Eva but failed. RCMP officers eventually stormed the home, shooting both Pocklington and the kidnapper, though both men made full recoveries.
Reader's Guide
His business empire, valued at over $2 billion in sales, collapsed under high interest rates reaching 18.5% in the early 1980s, sinking his trust company and real estate holdings. A bitter labor dispute in 1986 at his Gainers meatpacking plant saw him use strikebreakers from Quebec against the UFCW union, earning him deep resentment from Canada's labour movement. Although he negotiated a $50 million interest-free loan from Alberta Premier Don Getty, the deal came with strict profit-sharing terms and inflated production costs that eventually led to debt. Pocklington withdrew his 1983 Progressive Conservative leadership bid after receiving only about 102 delegates, later supporting Brian Mulroney. He sold the Oilers in 1998, moving to Palm Desert, California, yet returned for a standing ovation from 17,000 fans at the team's 30-year Stanley Cup reunion on October 8, 2014.
Did You Know?
- Pocklington offered a diamond ring his wife was wearing as a down payment to buy part ownership of the Oilers in 1976.
- He was held hostage for 11 hours by Mirko Petrović, who shot him before being caught and serving five years in prison.
- The title of his biography, *I'd Trade Him Again*, reflects his conviction that trading Wayne Gretzky had a positive impact on all parties.
- In 1983, he received approximately 102 delegates at the Progressive Conservative leadership convention before withdrawing.
- He owned multiple sports teams including the Edmonton Trappers (baseball) and the Kamloops Junior Oilers (hockey).
Frequently Asked Questions
Who was Peter Pocklington?
He was a Canadian entrepreneur from Alberta who owned the Edmonton Oilers from 1976 to 1998. Fans often refer to him as "Peter Puck" due to his deep involvement with the team during its formative years.
How successful were the Oilers under his ownership?
The franchise won five Stanley Cups between 1984 and 1990 while he held the majority stake. This period is widely regarded as one of the greatest dynasties in professional hockey history.
Why is Peter Pocklington controversial among fans?
His legacy is tarnished by the decision to trade Wayne Gretzky to the Los Angeles Kings in 1988. Although he believed it was financially necessary, many supporters feel betrayed by moving the team's greatest icon.
When did Peter Pocklington buy and sell the Oilers?
He acquired the franchise in 1976 and held ownership until selling his controlling interest in 1998. This twenty-two-year tenure covered the expansion era through the peak of their championship run.
What is his lasting impact on the club?
Pocklington built the infrastructure that allowed Edmonton to dominate the late 1980s, yet his exit marked the end of an era for local control. His tenure remains a defining chapter in the organization's history book.
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