Bossier Shreveport Mudbugs owner John Madden has signed off on a letter of intent from prospective buyers to purchase the team. Mudbugs General Manager Ray Delia says now the letter of intent goes to the team's attorney's where it will be reviewed.
Also the prospective owners will now file an application to become owners in the Central Hockey League. Delia told KSLA News 12 that he had delivered that paperwork to the new owners and they have begun the process of fliling it with the league.
After the league accepts the application, then an asset/ purchase agreement can begin between the Madden and the new owners which would formally transfer ownership of the team. Stay tuned to KSLA News 12 for any further update on the Mudbugs sale.