The St. Louis Blues are expected to announce that David Checketts will be buying the team and the Savvis Center. The St. Louis Post-Dispatch is reporting that he has signed an agreement of purchase and will pay $150 million for the arena and the team. To sign the agreement, Checketts had to put up $10 million up front. Any agreement will require NHL approval.Checketts, who is the former president of the Utah Jazz and the New York Knicks, is the CEO of Sports Capital Partners.Columbia, Mo., residents Bill and Nancy Laurie bought the team in 1999 and put the team up for sale last May. Since then two deals, one previously with Checketts, fell through. They claim that they’ve lost $60 million in the two seasons preceding last season’s lockout. The process to complete the deal could take two months.