It's official: Thrashers to Winnipeg

By Tim Tucker

The Atlanta Journal-Constitution

The Thrashers are headed to Winnipeg.

Enlarge photo

David Goldman, AP Altanta Hawks and Atlanta Thrashers owners Michael Gearon (left) and Bruce Levenson attend an NBA basketball game in December. Thirty-one years after Atlanta lost its first NHL team to Canada, the city may see its hockey team move north of the border.

Related

• Thrashers moving to Winnipeg
• Schultz: Atlanta never had a chance
• The history of Atlanta's pro sports owners
• History of the NHL's Thrashers in Atlanta
• Photos: Thrashers sale announced
• Video: Sale announced

• Thrashers Beat Blog with Chris Vivlamore »

  Ramsay to interview with Winnipeg

• Fan blog: The Ice Man »

  What will you remember about the Thrashers?

• Mark Bradley on Thrashers »

  Falcons and Hawks locked out. Thrashers gone. What to do?

• Jeff Schultz on Thrashers »

  How they really stand, from Braves (1) to Weasels (12)

Latest Atlanta Thrashers news »

• Follow @ajcthrashers | Others
• Area hockey fans settle on Gladiators
• Canadiens spoil Winnipeg's NHL return
• The puck drops Thursday in the NHL
• Jets trying not to repeat Atlanta's mistakes
• Atlanta Spirit settles Thrashers lawsuit
• Atlanta sports TV listings

True North Sports and Entertainment, the Canadian group that has been negotiating to buy the team since mid-May, made formal announcement of the move at news conference in Winnipeg  at 12:20 p.m.

Lawyers worked through the night on the transaction, with the last piece put in place at mid-morning Tuesday. Commisioner Gary Bettman told reporters he took a conference call with the principals at 4:30 a.m. (EDT) Tuesday.

Bettman also said he regretted seeing Atlanta losing its second NHL franchise.

"Sometimes, we simply don't have a choice," he said.

The agreement is conditional on approval by the NHL Board of Governors. The board, which consists of one representative from each team, is scheduled to meet next on June 21 in New York. A 75-percent vote is required to ratify a change of ownership and a 50-percent vote is required to approve a franchise relocation.

The Thrashers owners, Atlanta Spirit, negotiated the sale of the Thrashers to True North since mid-May. The Thrashers' owners have said in court documents that the team has lost $130 million since 2005.

True North is led by Winnipeg businessman Mark Chipman and billionaire David Thomson and owns Winnipeg’s arena, the MTS Centre and the American Hockey League team that has played there, the Manitoba Moose.

The group turned its attention to the Thrashers after a deal involving taxpayer money was reached to keep the Phoenix Coyotes in Arizona several weeks ago. The city of Glendale, Ariz., committed $25 million for next season to cover operating expenses for the NHL-owned franchise.

The Thrashers began play as an expansion team in 1999 in then-new Philips Arena.

This is the second time the city of Atlanta has lost an NHL franchise. In 1980, the Flames left for Calgary.  No other U.S. city has lost a professional sports franchise to Canada, and now it’s happened to Atlanta twice -- in the same league.