"Two weeks after a deal between the Blues and Matthew Hulsizer appeared imminent, the two sides signed a purchase agreement Friday, multiple sources told the Post-Dispatch.

Details still need to be worked out, and the NHL must approve the deal, but it's the most significant step in the sale process since the franchise was put on the block by chairman Dave Checketts in March.

A spokesman for Checketts' company, SCP Worldwide, did not return a phone message Friday.

The Post-Dispatch reported Oct. 5 that Hulsizer had reached an oral agreement to buy the Blues and, a week later, reported that the sides were closing in on a purchase agreement. Sources said the delay in reaching one centered on the sale price and Checketts' role moving forward.

An approximate price tag for the package, which includes the Blues, the Scottrade Center lease, the Peoria Rivermen and the Peabody Opera House, is expected to be $185 million to $190 million, according to sources.

Hulsizer, who is co-founder and CEO of PEAK6 Investments, a Chicago-based financial services firm, would own a majority stake in the Blues and make final decisions regarding the organization. It appeared originally that Checketts would remain with the organization in some capacity, but that appears less likely. He still could be involved in the investment group, but even that is uncertain."