A person familiar with the situation says the Florida Panthers have been sold to New York businessman Vincent Viola.
The person says Viola will be introduced Friday and is paying $250 million to buy the NHL franchise.
The person spoke to The Associated Press on condition of anonymity because the terms have not been made public.
Viola is the chairman and CEO of Virtu Financial and the former chairman of the New York Mercantile Exchange. He's buying a franchise that has been to the playoffs only once since 2000 and finished with the fewest points in the NHL last season.