NHL Approves Loan of $10.5 Million to Kings : Hockey: Commissioner believes funds from Colorado group will help stabilize the franchise for the next few months.

The NHL’s Board of Governors on Wednesday approved, in principle, the proposed interim financing of $10.5 million for the Kings from Colorado billionaire Philip F. Anschutz and developer Edward P. Roski Jr.

“There are ‘i’s’ to be dotted and ‘t’s’ to be crossed, which we will be doing in the next couple of days,” Commissioner Gary Bettman said.

“We’re trying to secure an overall framework for when there is better clarity in respect to the trustee and ensure there is strong ownership in the future.”

R. Todd Neilson, the bankruptcy trustee who, through L.A. Kings, Ltd., controls the 28% of the club formerly owned by Bruce McNall, on Monday withdrew his request for a restraining order against the proposed assistance.

Neilson, however, has not withdrawn his suit seeking to void last year’s sale of the team to Jeffrey Sudikoff and Joseph Cohen.

Bettman said the financing would be sufficient to keep the Kings stable for the next few months. By guaranteeing the loan, the Anschutz group will be paid $1.5 million.

An agreement by the Kings’ three shareholders prevents the club’s sale until Jan. 31, 1996 unless all parties agree. “I believe there is enough positive cash flow to get them to the winter. That’s the expectation,” Bettman said.

The trustee earlier in the week said that Cohen and Sudikoff had created a “self-induced emergency” by failing to live up to an agreement to put $20 million into the franchise. Laker and Forum owner Jerry Buss helped keep the team afloat by advancing Senate Seat funds, and the league loaned the Kings nearly $7 million in a line of credit.

In other news, the board approved the sale of the Quebec Nordiques to COMSAT Entertainment Group and its plan to move the franchise to Denver. Approval was unanimous, with one abstention (by Montreal). The still-unnamed Denver team will play in the Pacific Division of the Western Conference, leaving each conference with 13 teams.

In the other significant move, Harley Hotchkiss, an owner of the Calgary Flames, was elected chairman of the Board of Governors. The position had been vacant since McNall resigned more than a year ago.

Bettman also updated the Governors on the New Jersey Devils’ possible move to Nashville, Tenn., but told reporters he is abiding by the club’s wish to defer discussions during the Stanley Cup finals.

In addition, the governors were updated on the status of the Winnipeg Jets. A group intending to purchase a majority interest in the team has until Aug. 15 to meet various financial conditions. However, the NHL schedule already will have been issued and Bettman said the Jets will play in Winnipeg next season.

Also, Bettman said the collective bargaining agreement with the NHL Players Assn., agreed upon in principle in January after the lockout, was “very close” to being signed. However, discussions on a drug treatment program and NHL players’ participation in the 1998 Olympics might not be completed and would be treated as separate side agreements.

Times staff writer Lisa Dillman contributed to this story from Los Angeles.