It means that the MSU-Minnesota hockey team's nickname is the Mavericks, or a cow. Like bull fighting, where the guy holds the red carpet and the bull comes running real fast and he pulls it away he might yell ... "olayyy" to the crowd's roar. Then when he starts stabbing the bull in the head as it runs by he might do like a pirate with a sword trying to initiate a sword fight, he'd pull the sword from its case, hold it before him and say "ollayyy", as in "would you like to have a sword fight." Only the bull, or the cow in this case, might just run at the red carpet and continue to get stabbed because he's just a cow and doesn't know any better.
Should be a real tussle this weekend between the No. 4 and No. 5 ranked DI hockey teams in the state, behind Duluth, Bemidji and St. Cloud State. My Uncle Skeddy and I will be ringside on Friday night with Dubay ... oops, guess he probably won't make it.