[Update, 8:13 p.m. Tuesday:]

Late today, Mayor Karl Dean sent members of the Metro Council a copy of his "term sheet." This "sheet" contains a full copy of the financial conditions that would be agreeable to his administration. This sheet does not mean it is what the local investors, led by businessman David Freeman, have agreed or will agree to. While aspects of this sheet have been mentioned in other publications, this copy is the first fully available online.

Click this link to read the terms put forward by Mayor Dean, through attorney Larry Thrailkill, to Chase Cole, attorney for the local investment group seeking to purchase the Nashville Predators.

[As originally posted:]

NashvillePost.com has learned that Mayor Karl Dean and a group of local investors seeking to buy the Nashville Predators have reached an "understanding," according to sources.

Stopping short of calling it a "deal," NashvillePost.com sources say that new Nashville Mayor Karl Dean and a group led by businessman David Freeman have come to an "understanding" but that there is no "iron clad deal."

When contacted about what sources are saying, Chase Cole, legal counsel for the group of investors, simply told NashvillePost.com, "There is no deal at this point."

Any proposal developed by the mayor's office and the investors will have to be approved by the Nashville Sports Authority and the Metro Council.

NashvillePost.com was unable to obtain specifics on any "understandings" but will update this story as information becomes available.