Paul Fireman, head of Reebok International, signed...

Paul Fireman, head of Reebok International, signed a tentative agreement to purchase majority interest in the New England Patriots and said he plans to keep the NFL team in the region.

Billy Sullivan, who first became majority owner when the franchise was one of the original American Football League teams, has been offered a lifetime deal by Fireman to remain as an adviser. Sullivan’s son, Patrick, will retain his job as general manager. The Sullivan family is reportedly more than $110 million in debt.

Fireman’s investment is estimated to be more than $85 million. Fran Murray, the Philadelphia businessman who loaned the Sullivans more than $21 million, will likely be the minority owner with 49%.