Preds have purchase agreement

Local bidders enter binding agreement for $193 million purchase of the Nashville Predators, arena lease still up in air

The local bidders attempting to buy the Nashville Predators signed the purchase agreement this afternoon with owner Craig Leipold.

Terms of the deal weren't immediately available. It hasn't been sent to the NHL yet, as lawyers are still working on some minor details. The local group led by David Freeman, chief executive officer of 36 Venture Capital, had hoped to close by the end of next month. However, hanging in the air is renegotiating the Sommet Center lease after a new mayor is elected and in office. The renegotiation is aimed at modifying terms to help the team break even financially.

It's likely that Leipold continues to be the owner at the start of the Predators season on Oct. 4 as the local group works with a new mayor and new Metro Council to get a deal on the arena.