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Sale terms call for deal to be completed by June 30

Updated: May 24, 2007, 7:55 PM ET
Associated Press

NASHVILLE, Tenn. -- Craig Leipold patiently worked to build an NHL franchise and turned the Nashville Predators into one of the league's best teams. If they win a Stanley Cup, it won't be with him.

Leipold confirmed Thursday he has signed a letter of intent to sell the franchise to Canadian billionaire Jim Balsillie for $220 million after losing $70 million in 10 years of ownership.

"I'm tired of losing money," Leipold said. "I found someone willing to step up and invest in this team ...

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