NASHVILLE, Tenn. — Nashville Predators owner Craig Leipold thinks he's finally sold his NHL franchise, this time to a group of local businessmen and one California venture capitalist that wants to keep the team in Music City.

Leipold announced Wednesday he has signed a letter of intent to sell his team to the local group. The eight partners put down $10 million as a deposit toward the purchase price of $193 million.

The bid was less than the $220 million offered by Canadian billionaire Jim Balsillie. But Leipold said Balsillie ruined that deal by trying to move the Predators to Canada before money changed hands.