"The University of Michigan is in final negotiations with the NHL to hold the Winter Classic outdoor hockey game at Michigan Stadium on Jan. 1, 2013.

Michigan stands to gain $3 million from the NHL lease to host the game between the Red Wings and Toronto Maple Leafs at noon on New Year's Day. The NHL hopes to break the hockey attendance record of 104,173, set Dec. 11, 2010, when Michigan hosted Michigan State.

Michigan's Board of Regents approved the proposal during a special meeting Wednesday morning that most regents attended via conference call. Michigan athletic director Dave Brandon said the contract, that he's been working on since November, should be finalized "soon.""