The owners of the St Louis Blues are to sell the franchise, citing losses of $60m (£32.7m) over the last two years.
Wal-Mart heirs Bill and Nancy Laurie were also concerned about the future of the NHL after the cancellation of the entire 2004-2005 season.
The Blues and their home, the Savvis Center, have made losses of more than $225m (£122.8m) since 1994.
Game Plan LLC, a Boston-based company that found buyers for baseball's LA Dodgers, are to search for a new owner.
Blues president Mark Sauer said: "Substantial future losses are projected even if you take into account what we believe will be a very successful resolution to NHL collective bargaining."
The NHL season was cancelled following a labour dispute between team owners and players.
The owners wanted salary capping to provide financial stability, but the players were fiercely opposed to any such move.
The Lauries paid $100m (£54.6m) for the Blues in 1999.
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