It has been 15 years since the Winnipeg Jets last skated at the old Winnipeg Arena. After their first round exit to the Detroit Red Wings in 1996 the Jets packed their bags and relocated to Phoenix, Arizona to become the Phoenix Coyotes.

15 years later, Winnipeg once again has representation in the NHL.

Tuesday, The True North Sports and Entertainment Group (TNSE) finally struck a deal with the Atlanta Thrashers ownership group Atlanta Spirit to purchase the cash strapped franchise and move them to Winnipeg, Manitoba for the 2011-2012 NHL season.

The sale is still pending approval by the NHL Board of Governors which should happen on June 21st in New York. The transfer of ownership will require a 75 percent Board approval while relocation will only need a majority vote.

The deal, which has been in the works for weeks now, includes a $170 million dollar price tag and a $60 million relocation fee that will be distributed equally among the 29 other NHL teams.

The new Winnipeg franchise will play their games out of the MTS Centre in downtown Winnipeg that holds around 15,000 people. The building was constructed in 2004 and despite its relatively small size in comparison to other Arenas in the NHL it is modern.

Winnipeg will also become the NHL’s smallest market. The city has a population of around 633,451 with a metro population of 694,668. The province of Manitoba has a population of roughly 1,232,654 people.

Although a nickname hasn’t been chosen for the team, the fans in the city have overwhelmingly cried out to rename the team the Jets.

According to TSN, NHL commissioner Gary Bettman was present at the press conference in Winnipeg announcing the deal.

“Hockey in Canada has never been stronger,” said Bettman. “We get to be back in a place we wish had not left in 1996.”

Canada’s Prime Minister Stephen Harper also expressed his excitement of Canada once again having 7 NHL franchises.

“Memories of the legendary Winnipeg Jets players such as Bobby Hull, Dale Hawerchuk and Teemu Selanne remain fresh in the minds of Canadians,” said Harper. “I know that the new team will inspire countless young Canadians to put on their skates and carry on Canada’s proud hockey tradition.”

The Thrashers ownership group also released a statement to Thrashers supporters while the press conference in Winnipeg was taking place.

“It’s extremely disappointing to all of us that (this sale) became necessary after all other options were exhausted. We want to express my gratitude to you, the fans, for the years of dedication you have offered to the Atlanta Thrashers.”

Atlanta’s mayor Kasim Reed went public last week saying that there was no local interest in buying the Thrashers to keep them in Atlanta.

“Anytime we lose a major sports franchise, it’s tough,” Reed told NBC television affiliate Channel 11 last Tuesday. “It’s going to hurt the city, but we’ll withstand it and get through it. We have a lot of positive things going on in the sports franchise space that we’ll be announcing soon.”

This marks the second time the city of Atlanta lost an NHL franchise to a Canadian city. The Calgary Flames played in Atlanta from 1972 to 1980 when they packed their bags and headed north to Alberta. For Atlanta it took them 19 years for the NHL to return to the city when they were granted the expansion Thrashers in 1999. Unfortunately for hockey fans in Georgia, the NHL may never return there again.

Despite Winnipeg’s location out west, the team will continue to play in the Southeast Division for the 2011-2012 season. This was due to the 2011-12 schedule almost being complete however the league is expected to realign for the 2012-12 campaign.

Thrashers forward Evander Kane took to Twitter to express his gratitude to the fans in Atlanta.

“I want to thank all the Thrashers fans that supported us in Atlanta for my two years there. Very unfortunate there will be no NHL hockey. Thanks again. I will miss the great people and city of Atlanta,” said Kane.

Source: Twitter, TSN.ca, Winnipeg Free Press, Statcan.gc.ca, Canadian Press