NASHVILLE, Tenn. (WZTV) — Nashville Predators Chairman Herb Fritch has agreed to sell the majority of his stake in the team to former State of Tennessee Governor Bill Haslam.

Discussions came about smoothly and definitive documents are currently being drafted.

Haslam is expected to become a minority owner in the next few months and within the next few years, through a multi-phased purchase transaction, Haslam will become the club’s majority owner upon the execution of definitive documents, the completion of a due diligence process and securing all necessary approvals within the organization and the National Hockey League.

Sean Henry, President and Chief Executive Officer of the Predators and Bridgestone Arena, gave the following statement in a press release:

“From the time our ownership group, made up of day one season ticket holders, gathered together in 2007 to purchase and guarantee the franchise’s future in Nashville, the goal has been to ensure that stewardship of the team is in strong local hands. The pending addition of Governor Haslam to the ownership group solidifies that local stewardship for years to come, with the shared philosophy for making SMASHVILLE the most unique sports market in our league and country as our players and coaches compete for the Stanley Cup each season. We are excited and appreciative that he has agreed to join the ownership team”

In December of 2007, Predators Holdings LLC purchased the Nashville Predators and Powers Management, the management company that operates Bridgestone Arena. They then assumed control over the day-to-day operation of the National Hockey League team and Bridgestone Arena.

Herb Fritch currently serves as Chairman of the Predators, a position he assumed in January 2019, succeeding Tom Cigarran.

The possible change of ownership first came to light Thursday night, but nothing was confirmed.  According to Sportico, former Tennessee Gov. Bill Haslam was nearing a deal to purchase the Nashville Predators.  The Predators ownership group is currently led by Herbert Fritch, a healthcare entrepreneur who took over as chairman in 2019. Fritch is one of 17 owners listed on the Predators’ website.  Sportico valued the club at $680 million, 26th in the NHL.

The club finished the 2021-2022 season with a 45-30-7 overall record and reached the postseason in 15 of the last 18 seasons.