Accord Reached to Sell Boston Garden, Bruins

An agreement was reached Wednesday to sell the Boston Garden and the Boston Bruins of the National Hockey League for $50 million to a group headed by Boston investor James F. Brennan and Boston real estate broker Godfrey Wood.

The agreement in principle to purchase the Bruins and Boston Garden was announced in Buffalo, N.Y., by Jeremy M. Jacobs, chairman of Delaware North Cos. Inc., the selling company, and Brennan.

The deal is subject to completion of legal documents and regulatory clearance but is expected to be closed within two weeks, the parties said in a news release.

Samuel Gifford, director of communications for Delaware North, said that his company will keep the concession and advertising revenues from Boston Garden as part of the deal.

Brennan, 28, owner of Harbor Equity Corp., a Boston investment counseling firm, said he did not anticipate any immediate changes in personnel or management of the Bruins or Boston Garden.