CORNWALL, Ontario - A new ownership group is set to takeover the reins of the Cornwall River Kings - likely meaning the team will remain in the Seaway City.
The Ligue nord-américaine de hockey confirmed Tuesday evening a group of investors has been secured to purchase the team from Bernie Villeneuve.
While details still need to be worked out, the league said the team will stay in Cornwall and play this season.
"A marathon of negotiations took place over the past 24 hours to complete this happy ending," said league president Michel Godin.
The new ownership group includes David Small, Gokan Karakus and Cory Linthorne.
The team is hoping to use the logo displayed last season. A new logo was planned for the looming semi-pro season, but was largely panned by fans.