The Edmonton Oilers may be having a rough start to the hockey season, but their owner is about to make L.A.'s most expensive property his home. Billionaire Daryl Katz has reportedly bought the Los Angeles area's most expensive listing ever, an oceanfront, 22,000-square-foot mansion in the ritzy beachfront community of Malibu.

Westside Estate Agency via Variety

According to reports at Curbed L.A. and TMZ, Katz paid US$120 million (C$152 million) for the six-acre property, of which $85 million was for the house, and $35 million for its contents. Architectural Digest, which featured the property in 2014, reports the contents of the house include numerous works by artists such as Damien Hirst, Ed Ruscha and Sterling Ruby.

Westside Estate Agency via Variety

To give you an idea of just how opulent this property is: Prior to being put up for sale, it was being rented out for no less than US$750,000 (C$952,000) a month. Its seller, Kurt Rappaport, is a superstar realtor in the L.A. area and co-founder of Westside Estate Agency.