In the '80s, Pocklington ran a $1-billion empire consisting of Fidelity Trust Co., meat-packer Gainers Inc., car dealerships, real estate and oil and gas interests. But it was his ownership of the Edmonton Oilers that made him a household name. Pity that he racked up all those millions in debt and, in 1988, sold Wayne Gretzky to the L.A. Kings for $15 million (U.S.). He also defaulted on a $6-million loan to the Alberta government; the province, in turn, seized Gainers.
Where he is now: Pocklington is CEO of Garden Grove, Calif.-based GolfGear International. In August, the company--which has been drowning in red ink--signed an agreement granting Nike Golf a non-exclusive, worldwide licence to manufacture and sell GolfGear's forged-face insert technology. "What's next," says the ever-feisty Pocklington, "is going after [companies]that are infringing on our patent rights.
I won't name them but we're going after them." And if that doesn't work out, there's always Meditron, a Quebec-based medical-supplies company Pocklington owns. As for living in the land of nectar? "I'm loving California.The business atmosphere is very different. There's fewer regulations, lower taxes and it's got better weather."