The Kings announced Thursday they are buying the majority of the Calgary-based appliance-service company Brown’s, in a deal valued at about $10.6 million.
The announcement is the first step in a plan to transform Brown’s into a major owner of NHL franchises.
The team’s parent company, Anheuser-Busch InBev, has a stake in the Flames and plans to sell it for $4.2 billion.
Anheuser owns more than 80 per cent of the team.
It is not known if the new ownership will have the financial resources to keep the team in Calgary.