Addressing the media in a news conference before Game 1 of the Stanley Cup finals, commissioner Gary Bettman said he is optimistic the Devils' financial situation will be resolved within the next few weeks. Bettman said that team owner Jeff Vanderbeek is close to refinancing the club's debt.

Gary Bettman expects negotiations with the players' association on a new collective bargaining agreement to begin in a couple of weeks. In news conference before Game 1 of the Stanley Cup finals between the Kings and Devils, Bettman said Wednesday that talk of a lockout is nothing more than speculation at this point since labor and management have not met. "Time will tell how this all sorts out," Bettman said. "I am hopeful this all sorts out easily because labor peace is preferable to the alternative."

Blackhawks GM Stan Bowman commented publicly for the first time since pictures emerged of Patrick Kane apparently partying at the U. of Wisconsin earlier this month. "We've discussed it with Patrick and we've handled it internally," Bowman said Tuesday on a conference call to announce the signings of Johnny Oduya and Jamal Mayers. "We're obviously disappointed how it played out and Patrick is aware of that fact."

The Glendale City Council has approved a preliminary budget that includes $17M to be paid to the prospective buyer of the NHL's Coyotes for operating costs for the city's Jobing.com Arena. The 4-3 vote on Tuesday night was the first in a series of moves necessary before the council approves a new lease for the arena.

In a procedural formality, the NHL has provided the required 120-day notice to the players' union in order to make changes to the CBA, an NHLPA spokesman confirmed to ESPN.com. The current CBA expires Sept. 15. If either party wanted to extend the agreement, the current one would automatically have been extended for another season. At the general managers' meetings in mid-March, commissioner Gary Bettman said he was "not particularly concerned" about the negotiating timeline.

The NHL Board of Governors has approved the sale of the Blues to a group headed by St. Louis beer distributor Tom Stillman, the league announced Wednesday. The sale price was not disclosed, but is believed to be about $130M. The Stillman group will become the eighth owner of the Blues since the franchise came into existence in 1966.

The Coyotes are a step closer to having an owner after three years of waiting, according to an ESPN.com report. NHL commissioner Gary Bettman announced Monday that the league has reached a preliminary agreement to sell the team to a group headed by former Sharks CEO Greg Jamison.