The Senators are in the initial stages of a move to downtown Ottawa.
On Thursday, the National Capital Commission announced it has signed an agreement in principle with RendezVous LeBreton for the redevelopment of LeBreton Flats, a downtown Ottawa neighborhood where the hockey team wants to build a new arena.
The Senators currently play out of the Canadian Tire Centre in suburban Kanata. The hope is that a move to a more accessible arena in the downtown core will improve attendance figures.
A joint venture between Trinity Development and the Senators, RendezVous LeBreton now holds exclusive negotiation rights as it works toward a master agreement with the National Capital Commission. That process could take more than one year, reports Postmedia's Bruce Garrioch.
Senators owner Eugene Melnyk, on hand for Thursday's announcement, said in a statement, "(I am) thrilled to move one step closer to bringing fans a more enjoyable experience."