There is a deal in place to sell the Florida Panthers, according to a published report on Tuesday.

Reuters, citing an anonymous source close to the deal, reported that Sports Properties Acquisition Corp. had agreed to buy the Panthers, the team's BankAtlantic Center arena and land surrounding the arena.

The purchase price is $240 million US, the news agency reported.

Sports Properties Acquisition Corp. was formed within the last two years. The group includes former New York state governor Mario Cuomo, former Montreal Expos president Tony Tavares and baseball legend Hank Aaron. Former NFL quarterback and congressman Jack Kemp was also involved before his death last month.

Vice-president Andrew Murstein, whose family's fortune comes from the taxicab medallion loan business, has been the point person in media interviews for Sports Properties over the past year.

Their interest in the Panthers was first reported in the financial press in April.

According to the Miami Herald, current owner Alan Cohen could remain involved with the team but would not continue as majority owner if the sale went ahead.

The Panthers have not been in the NHL playoffs since 2000, and the franchise has not won a playoff round since the surprising run to the Stanley Cup final in 1996.

The team had an 81.2 per cent attendance rate despite being in playoff contention much of this season, which ranked only ahead of Atlanta.

Forbes Magazine has listed it 24th in value among the 30 NHL teams.

Jacques Martin left the Panthers on Monday after more than five years as coach and general manager, taking over as head coach of the Montreal Canadiens.

The NHL has not commented on the proposed sale. Any deal would require approval from the league's Board of Governors.