NASHVILLE, Tenn. (AP) -The Nashville Predators have signed a letter of intent to sell the team to a local group of investors trying to keep the NHL franchise from leaving town, the team's owner announced Wednesday.
The group of eight partners includes David Freeman, chief executive officer of 36 Venture Capital LLC, and Herb Fritch, CEO of HealthSpring Inc. The only partner from outside the Nashville area is William ``Boots'' Del Biaggio III, a California venture capitalist who is a part-owner of the San Jose Sharks.
Freeman has put down a $10 million deposit in an effort to make sure the deal is completed, owner Craig Leipold said.
``I'm excited to pass the torch to David and to Boots and their group. I know that they are all committed to Nashville,'' Leipold said.
A total value of the bid was not immediately announced, but it was expected to be about $180 million - much less than the $220 million offered by Canadian billionaire Jim Balsillie in May when Leipold last announced he had signed a letter of intent to sell his team.
Leipold has been trying to sell his franchise because he said he has lost $70 million since being awarded the team in June 1997.
Advertisement

Top NHL Public Bets

Advertisement

NHL Top Stories

Thumbnail Crosby focused on resuscitating Pens Riding a nine-game winning streak, Washington is the hottest team in hockey right now. But will the league’s third-leading scorer throw a wrench into the Caps’...
Thumbnail Western Conference titans clash shortly John Gibson is acclimating quite nicely to his new role as the Ducks’ workhorse in net. Still, can the 23-year-old cool off the Blues tonight?
Thumbnail Elite netminders lock horns in Montreal Two of the NHL’s most explosive offenses are preparing to collide in Quebec. With Carey Price and Henrik Lundqvist on the scene, however, will stellar...
Thumbnail Note goalie wades into hostile territory So far, Jake Allen's first season as the Blues' undisputed No. 1 netminder has not gone according to plan. But can he reverse the...
Thumbnail Ovechkin targets another major milestone It’s always a treat to see Eastern Conference powerhouses Pittsburgh and Washington do battle. Tonight’s meeting in the nation’s capital, however, should have...

NHL Team Pages