The National Lacrosse League's Board of Governors gave unanimous approval to the sale of the Vancouver Ravens yesterday at their annual meetings in Las Vegas.

Partners Group 1, Inc., led by Ottawa-born businessman Raj Kalra, and MSA Sportsworks Entertainment reached an sale agreement in late March.

Kalra's group will own 80 percent of the Ravens franchise, with Sportsworks' Tom Mayenknecht controlling the remaining 20 percent.

Mayenknecht was a founding partner of the Ravens in the spring of 2001, selling the team to former NHL defenseman Paul Reinhard a year later but returning just months later when Reinhard decided to abandon the team midway through the 2003 season.

Mayenknecht will remain as the Ravens' governor, a position he has held for the duration of the club's existence, save for the brief Reinhard era.

"This marks the culmination of a challenging yet ultimately gratifying recovery of our Vancouver Ravens in the National Lacrosse League," Mayenknecht said.

"On behalf of all of us associated with Ravens Lacrosse, I welcome and appreciate the vision and commitment of Raj Kalra and Partners Group 1. They’ve made this recovery possible, thereby validating the efforts of a great team of people over the past fifteen months."

Although Mayenknecht previously kept alive the possibility of relocating the Ravens for next season, perhaps to Atlanta (where Partners Group 1 is headquartered), it now appears that the team will stay at General Motors Place.