The Acadie-Bathurst Titan will relocate to St. John’s, Nfld., at the end of the QMJHL 2024-2025 season.

The announcement came after a news conference held Friday by the team’s shareholders, led by Marc Guignard.

The decision was made after only three out of the 11 groups expressed interest in continuing to work with the Titan in Bathurst.

An agreement was signed Thursday night, confirming the sale to a new ownership group from Newfoundland and Labrador.

The Titans’ players and draft picks will remain with the team as they transition to their new home in St. John’s.

“From what we hear the group of players is excited that the hockey operations and them playing together will continue,” Guignard said.

Guignard acknowledged the financial losses were nearing $1 million per season despite the team’s competitive efforts.

Attendance at games often fell short of the necessary 2,000-2,500 fans, which further strained the team’s viability in Bathurst.

“Maybe this is a lesson to all of the other teams and all the other fans. Please support your teams and show them that you want to keep your team in your areas,” Guignard said.

The new owners — John Harvey Patten, John R. Steele and Jason Sharpe — will take over the team’s operations and are committed to reviving junior hockey in Newfoundland and Labrador.

A follow-up news conference is scheduled for January in St. John’s to address further questions about the move and the team’s future.