Regina Pats owner Russ Parker has confirmed that the team is being sold to a local ownership group.
On Wednesday, Parker announced a deal to sell the team to Queen City Sports and Entertainment Group, which is headed by Regina businessman Anthony Marquart.
The sale is subject to approval by the Western Hockey League Board of Governors, which is set to vote on the transaction April 30.
The WHL says if the ownership transfer is approved, the sale will close in May.
