The Denver Rangers' owner says he is negotiating with a Denver-area party that has shown interest in buying the minor-league hockey club and keeping it in Colorado.

Denver U.S. Bankrupty Court had ordered Richard Gerry to declare his plans for the team by Thursday so the New York Rangers and the International Hockey League could proceed with their plans next season.The Bankruptcy Court on Thursday granted Gerry's request for an extension of the deadline so he can continue negotiations. Gerry had said he probably would have to file for Chapter 7 bankruptcy - liquidation - unless he found an 11th-hour buyer.