Oilers president Patrick Laforge, addressing reporters at a news conference in Edmonton on Monday, says the Katz Group has secured options on several pieces of property for a new arena. (CBC)

No decision has been made on the site of the new arena for the Oilers, as owner Daryl Katz is looking at several pieces of property in downtown Edmonton, team president Patrick Laforge said Monday.

"Katz Group has secured options on a number of pieces of property. I'm not going to go through where they are," Laforge said at a news conference in Edmonton.

Last week, CBC News learned the Katz Group had purchased land at 101st Street and 104th Avenue — the current site of the Baccarat Casino — as well as an adjacent block of land, on the south side of 104th Street across from the Greyhound Bus Terminal.

News of the purchase raised speculation that a final announcement on the arena site was imminent.

However, while the Katz Group confirmed it had agreements in place to purchase the land, Laforge — now the spokesman for the project — took great pains to stress it was not the only site under consideration.

"Choosing the site has got a lot to do with what goes on and how big it might be. So the answer is, we're not down to just one place. We need to cloak a little bit about what we're looking at because, quite frankly, why would we bid against ourselves?"

'We're totally focused on downtown'

However, Laforge confirmed the site will be downtown.

"We're totally focused on downtown," he said.

The project is anticipated to be more than a replacement for the Oilers' current home, the aging Rexall Place. The facility could also contain housing, hotels, a theatre, a casino and offices, as well as the arena. There will likely also be a smaller practice arena attached to the facility.

While no timelines have been decided upon, Laforge has been told a design won't be ready until "well into" 2010.

Laforge also acknowledged there are still questions about who would own the facility when it is built and how it will be financed.

"Yes, I think it does require stakeholders involved in the development of the site and most importantly the arena," he said. "And there will be a debate that goes on and raging currently a little bit. Who owns the arena? The City of Edmonton or the development corporation?"

Rexall pharmacy billionaire Katz bought the Oilers in early 2008. After his offer was accepted by the team's former owners, Katz said he would contribute $100 million of his own money for an arena, which he said should go downtown.

In 2008, a task force appointed by Mayor Stephen Mandel recommended the arena be funded by a mix of private and public funds, with 70 per cent covered by the city.

But the idea of spending public funds on a new arena has proved to be controversial with Edmonton residents and Mandel recently said the city would not use property taxes to fund it.

One option involves the use of community revitalization levies, where the city funds the project by borrowing against future tax revenues in the area around the arena.

With files from The Canadian Press