True North Sports and Entertainment in Winnipeg has called a 12 p.m. ET news conference on this Tuesday to announce that they've purchased the Atlanta Thrashers and will be relocating the team to Winnipeg.

You can watch that press conference live here, via this stream from the Winnipeg Free Press. It's now scheduled to start around 12:15 p.m. ET.

This announcement will provoke parties in the streets of Winnipeg. Local officials are telling fans to avoid the usual party spot of Portage and Main in Winnipeg's downtown -- after all, it is a work day today -- and instead are urging fans to party at The Forks, another local gathering spot where the Red and Assiniboine Rivers meet.

It'll be interesting to see exactly what we learn at this press conference today. Will we learn the name and color (perhaps we should say colour) scheme of the new club? Will Gary Bettman be present (and will he be booed or cheered)? Will we learn officially that they'll play in the Southeast Division?

There are still a lot of questions, and hopefully today's press conference gives us some answers, and some much needed closure for fans in Atlanta as they lose their team. 

For more coverage on the move of the Atlanta Thrashers to Winnipeg, check SB Nation Atlanta's massive StoryStream, as well as coverage from our Thrashers blog, Bird Watchers Anonymous.