Deacon Sports and Entertainment, the owners of the Newfoundland Growlers, has entered into an agreement to purchase the St. John's Edge.
In a statement on Friday, the National Basketball League of Canada announced that it had agreed to the deal in principle, which will see Deacon Sports and Entertainment purchase the rights to the St. John's Edge Basketball Club from Atlantic Sport Enterprises Ltd.
"We are ecstatic to officially share the exciting news that Edge Basketball will return to the region." said Dean MacDonald, chair of Deacon Sports and Entertainment.
The announcement comes the day after The City of St. John's announced that it had reached a five-year agreement with a company called 2001 Investments to bring an American Basketball Association team — not the St. John's Edge — to Mile One Centre this fall.
NBL Canada did not say where the St. John's Edge will play.
The announcement is the latest development in a series of back and forths between the City of St. John's, Deacon Sports and Entertainment and Atlantic Sports and Entertainment.
Last July, the City of St. John's announced that it could not reach an agreement with owners of the St. John's Edge.
At the time, Atlantic Sports and Entertainment said it believed St. John's Sports and Entertainment had acted in "bad faith." Jamie Korab, chair of St. John's Sports and Entertainment, said the deal made more sense for the city and its tax payers.