OTTAWA, Ontario — It went down to the deadline, but the NHL's Ottawa Senators have an agreement to build a new arena downtown in Canada's capital.

The Flats has been revived as a prospective base for the team, joining the North American trend of moving major sports facilities out of the suburbs

Agreement to build a new NHL arena at LeBreton Flats has been reached between the Ottawa Senators and the National Capital Commission (NCC), sources tell CTV News Ottawa.

The Ottawa Senators are a step closer to making their dream of a downtown arena a reality. League sources confirmed to Postmedia that the Senators and the National Capital Commission have reached the next stage to build a new rink at LeBreton Flats after the two sides signed a lease agreement on the land located 10 minutes West of Parliament Hill.

It went down to the deadline, but the National Hockey League's Senators have an agreement to build a new arena in downtown Ottawa.

The Senators and the NCC had until Friday's deadline to reach a deal before their memorandum of understanding expired.

The Ottawa Senators and the National Capital Commission say they've reached an "agreement in principle" to bring a new NHL arena and major events centre to LeBreton Flats.

The Senators still have a long way to go but this is their biggest step yet toward getting a new downtown arena built.

The Ottawa Senators have taken an important first step toward building an arena closer to the city’s core. The Senators and the National Capital Corporation reached a deal for the sale of land for purposes of constructing an arena at LeBreton Flats,