Jim Balsillie's bid to purchase the Nashville Predators and relocate them to Southern Ontario appears unlikely now that current Predators owner Craig Leipold has found a new buyer.

According to the National Post, Leipold informed Balsillie earlier this week that he would not accept his $238-million US offer for the NHL club. Instead, Leipold is preparing to sell the franchise to California businessman William DelBiaggio, who is expected to move the team to Kansas City instead.

DelBiaggio's bid is reportedly $50-million US less than what Balsillie was offering for the club.

Balsillie's deal to purchase the Predators was set to close on June 30.

Balsillie and Leipold refused to comment on the report although a spokesperson for Leipold said he was unware of any changes to the current plan to sell the team to the Research-In-Motion co-founder.

The NHL, which called Balsillie's plans to relocate the team to Southern Ontario "premature", also declined to comment.

Despite the fact he doesn't yet own the team, Balsillie recently signed an option for a 20-year lease on Copps Coliseum in Hamilton and began accepting desposits for season tickets and suites.

Kansas City, which recently built a brand new downtown arena, has been searching for a permanent tenant and recently made a pitch to try and lure the Pittsburgh Penguins to Missouri. The arena is managed by Anschutz Entertainment Group, which is owned by L.A. Kings owner Philip Anschutz.

DelBiaggio has an agreement with the Anschutz Group to own and operate an NHL franchise in the new arena.