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It’s believed the RendesVouz group — a partnership between Senators’ owner Eugene Melnyk and John Ruddy of Trinity Developments — would then have six to 12 months to get the financing in place for the massive $3-billion development that could change the face of the city.

Mark Kristmanson, the NCC’s chief operating officer, indicated late last year this would be a “milestone” meeting for the board of directors, who are being briefed in camera on the details of the agreement Wednesday.

Moving this project to the next step is significant because the negotiations between the two sides have been ongoing since RendezVous LeBreton was given preferred bidder status by the NCC in April, 2016.

With talks still at a delicate stage, it’s uncertain whether Melnyk will attend the NCC meeting. And his presence wouldn’t be required, anyhow, as the deal won’t be fully complete by Thursday. At this point, Melnyk might want to take a step back from the spotlight until everything is in place 100 per cent.

There are 35 minutes set aside on the NCC’s agenda for the LeBreton portion of the discussions, which will include a staff update on the talks.

There is a sense in the community that this is a watershed moment for the ownership of the franchise and especially those who have refused to listen to Melnyk when he says he’ll never sell the team and it’s not for sale.

Though Melnyk stated last month on Parliament Hill he wasn’t sure a downtown arena was as important as everybody was making it out to be, it should be noted he was still in the middle of negotiations for a new rink at LeBreton and it makes no sense to show all your cards while trying to get a deal done.