An Atlanta-based group of investors has purchased a majority interest in the Vancouver Ravens, the team announced this afternoon.

Partners Group 1, Inc., led by Ottawa-born businessman Raj Kalra, will take control of the Ravens by 1 June and, in the meantime, will underwrite the rest of the team's season and pay off some of the bills.

The sale price was not announced.

The Ravens had been teetering on the brink of financial collapse for over a year, as team governor Tom Mayenknecht struggled to find a new owner.

Mayenknecht had sold the Ravens a year and a half ago to Paul Reinhard, but found the team back in his lap on Valentine's Day 2003 when the retired NHL defensemen decided to abandon the team.

"We’re absolutely delighted to have reached this agreement," Mayenknecht said. "It’s a very positive development for the Vancouver franchise, for our players, coaches and management and for all of our fans of Ravens Lacrosse.

"Raj and his group are committed to helping take the Ravens franchise to the next level and to making it a source of pride for the BC lacrosse community and for all sports fans throughout the province."

Partners Group 1 enters with no sports management experience among its investors, a group of wealthy American and Canadian businessmen, but Kalra, a former lacrosse player, doesn't see that as a problem.

"We do have a large variety of experience in management in various industries, including retail, marketing, advertising and sales," he said.

"We believe with the passion we have for sports we can work our way through that learning curve quite easily."

Mayenknecht, the last remaining team founder, will continue to own a minority share of the Ravens through his company, MSA Sportsworks Entertainment, and will serve as managing partner of the team.

"We have no inclination of moving that team and we believe it will stay in Vancouver for a long, long time," Kalra said via conference call.

However, Mayenknecht wouldn't guarantee the Ravens would remain in British Columbia past this season.

"We do want to keep our options open," he said.

"I don't want to say 100 percent it is going to be here in Vancouver forever. We want to do due diligence around what business model makes the most sense. Is it here at GM Place, which is our first choice, is it at another venue in Vancouver, is it at a new arena in Victoria?"

Wherever they end up next year, the Ravens' players are happy that the team has been sold.

"We can actually play lacrosse and not think about the stuff going on behind closed doors," forward Chris Gill said.