A person familiar with the negotiations says several groups are vying to buy the financially strapped New Jersey Devils, and a deal should be completed by the start of the NHL season.
The source spoke to The Associated Press Thursday and requested anonymity because the negotiations between Devils owner Jeff Vanderbeek and the groups are still active.
Philadelphia 76ers owner Josh Harris heads one group trying to buy the three-time Stanley Cup champions and Calgary billionaire Bill Gallacher is another, although the source said multiple groups are bidding. The team will not relocate, the source said.
The NHL said it has no interest in taking over the team, commissioner Gary Bettman said Thursday after a new conference in New York to promote two outdoor games at Yankee Stadium.