The purchase percentage Hulsizer would obtain remains undetermined, but it's expected to be a majority stake.
The transaction still requires the NHL's approval.
The deal's sale price has been estimated between $185 million and $190 million, which also include the lease to Scottrade Center and the purchase of the American Hockey League's Peoria Rivermen.
Last year, Hulsizer was a potential buyer for the Phoenix Coyotes before he ended his bid for the club, not wanting to go through another several months of negotiating with the city of Glendale.
