The Blue Jackets' National Hockey League franchise has agreed in principle to remain in Columbus after a deal was reached between the city, state and Franklin County to buy Nationwide Arena, 10TV News reported Wednesday.
The arena, which will still be called Nationwide Arena, will be managed by the Franklin County Facilities Authority, 10TV's Jessa Goddard reported.
The Blue Jackets said that the franchise was losing $12 million in operating losses annually, partially because of unfavorable terms on the team's privately financed arena lease.
The Columbus Chamber released a report in late 2009 that the Blue Jackets' continuing financial losses could result in the team's departure from the city.
The Columbus Blue Jackets issued a statement from team president Mike Priest in response to the announcement.
"We are appreciative of the comprehensive work and due diligence delivered in this report. Mr. Dorrian, Bill Jennison and John Rosenberger each understand the issues and this report offers a solution that will provide a long term sustainable business model for the organization. We are encouraged by the report's findings," Priest said
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