A pair of Canadian businessmen is set to become the new owners of the Lancaster JetHawks minor league baseball team.

Jake Kerr and Jeff Mooney are acquiring the team from the Carfagna family, of Cleveland. Terms of the transaction, which must be approved by Minor League Baseball, Major League Baseball and the California League, were not disclosed.

Kerr and Mooney own the Vancouver Canadians, a Single A team of the Northwest League. They have named Andy Dunn, the president of the Canadians, to the same position for the JetHawks.

The JetHawks, a Single A team in the California League founded in 1996, is affiliated with the Houston Astros. The team won the California League Championship this season.

The Lancaster City Council will vote Wednesday on transferring the lease for use of the 4,600 seat Lancaster Municipal Stadium, also known as The Hangar, to the new owners.

The change in ownership comes at a time when the valuation and sale prices of minor league teams have been reaching record levels. The Dayton Dragons, a Single A team in the Midwest League affiliated with the Cincinnati Reds, sold in July for $40 million. Months earlier, the Rough Riders, a Double AA team in Frisco, Texas, sold for $32 million.