The Hartford Whalers were sold Wednesday night for $47.5 million to two Michigan computer company executives who intend to keep the team in Hartford for at least four years.
The purchasers, Peter Karmanos and Thomas Thewes, are the principal owners of Compuware Corp. They have been seeking an NHL franchise for years.
The Connecticut Development Authority had to approve the sale after majority owner Richard Gordon signed a lease last year that gave the state first option to buy the Whalers in exchange for Connecticut providing financial assistance.
Details of the agreement will be announced today at the governor's office. The sale also must be approved by the NHL.
Compuware and the William F. Dowling Group had presented proposals to the CDA, which voted unanimously for Compuware.
If the CDA had failed to line up a buyer for the team by June 30, Gordon would have been allowed to sell the team to an out-of-state buyer.