Reported billionaire and businessman Alex Meruelo is interested in purchasing the Arizona Coyotes, a team source confirmed to 98.7 FM Arizona’s Sports Station on Monday.

The matter was first reported by The Athletic’s Craig Morgan, who reported that not only is Meruelo interested in buying the desert NHL franchise, but that a sale was “in the advanced stages” but would need approval by the NHL Board of Governors, who will meet on June 19.

With the two sides having ironed out several key material issues in the past two weeks, the vote is expected to be on the agenda at the NHL Board of Governors meeting on June 19 in Las Vegas, site of the annual NHL Awards show. Even if the Board of Governors approves the sale, however, a closing date may not come until later this summer.

Meruelo would reportedly become the majority owner, a post currently held by Andrew Barroway, if the deal is completed.