Russ Parker the long-time owner of the Regina Pats, is selling the WHL team, pending league approval, to a group of local business people led by Anthony Marquart.
"I feel pretty good, honestly, about our time here," Parker said at a news conference Wednesday in Regina. The proposed new owners were not in attendance.
For the sale to go through, the board of governors of the Western Hockey League must approve. A vote is set for next week on the sale of the Pats, and another franchise, the Prince George Cougars, which are also going through a sale to a B.C. group.
Russ and Diane Parker purchased the Pats in 1995.
"We didn't buy the hockey club to flip it and get out of town," Parker added. "We had the team because we enjoyed junior hockey."
According to the WHL, the proposed sale of the Cougars, by owner Rick Brodsky, will be to a group of Prince George businessmen and former WHL players headed by Greg Pocock.
Both sales require two-thirds of the WHL's board of governors to be in favour of the transactions. They'll vote April 30 in Calgary prior to the league's awards luncheon. If approved, the ownership transfers will be completed in May, according to the WHL.