St. Louis ? The owners of the St. Louis Blues announced their plans to sell the franchise on Friday, citing tens of millions of dollars in red ink as the National Hockey League struggles to regain its footing after a lockout canceled last season.

The team’s owners, Bill and Nancy Laurie of Columbia, decided to sell the NHL franchise because of heavy financial losses and concerns about the future.

The combined cash deficits of the Blues and the Savvis Center since the building opened in 1994 had exceeded $225 million, Blues President Mark Sauer said.

He pointed out that the Blues lost about $40 million in the 2003-04 season, and lost about $20 million this season, when players’ salaries did not have to be paid during the lockout.

“We lost less money by not playing,” he said.

Sauer said more than 100 people currently were employed at the Savvis Center and would continue in their jobs.

As the search is on for a buyer, considerable future losses were projected even after anticipating a successful resolution to NHL collective bargaining, he said.