LEWISTON - City officials said Thursday they have a deal to sell the Androscoggin Bank Colisee by July 1 to a Veazie-based company that manages ice rinks.

The company has yet to sign a contract, but the parties have an "agreement in principle," City Administrator Jim Bennett said.

Once the legal documents are drawn up and signed, Firland Management would assume ownership of the former civic center, home to the Lewiston Maineiacs, a semi-professional hockey team.

Bennett estimated that the final contract would be ready for public scrutiny in the next few weeks. City attorney Martin Eisenstein is writing the first drafts, Bennett said.

"Depending on what the attorneys do, this could go fairly quickly," he said.

City officials didn't disclose any numbers pertaining to the sale, including the sale price or the future of Lewiston's $5.7 million in debt on the building. Councilors met with Bennett and Eisenstein in an executive session for about 45 minutes Thursday before announcing the deal.

Mayor Larry Gilbert said it would eliminate the city's ongoing subsidy of the ice rink, estimated at $488,000 for fiscal 2009. It would also change the Colisee's purpose, he said.

"(It will) return a focus on the youth of our community using the facility, which was the original dream and purpose of the facility when it was first created," Gilbert said, reading from a prepared statement. He said the deal is also structured to keep the Maineiacs in Lewiston.

"We're being very careful, considering all of the options," City Councilor Tom Peters said. "There will be a lot more the public will hear about this opportunity, this sale. There will be plenty of opportunity to voice their opinion, and this council will listen. We have not signed anything yet."

Firland Management operates ice arenas in Lansing, Mich.; Batavia, N.Y.; Johnstown, Pa.; Carencro, La.; and Fort Worth, Texas. It was one of the first companies Lewiston hired when it took over operation of the ice arena four years ago. Firland helped create the management plan for the Colisee.

The city has owned the former Central Maine Civic Center since February 2004 when it agreed to take on $4.2 million in debt and management of the center, including day-to-day operations and repairs.

Councilors gave the Colisee $650,000 in 2007 to cover two years of operational losses at the ice rink, on top of $3.2 million worth of building and equipment upgrades.

Improvements included a $2 million facade, an addition and interior work in 2005; a new ice resurfacer, a portable stage, an improved compressor, boiler repairs and bathroom upgrades in 2006. The city owes $5.7 million for the Colisee and improvements.

Later in the meeting Thursday, councilors voted to increase the subsidy for the ice rink by up to $225,000 to cover current-year losses. The money is for fiscal 2008, which ends June 30.