A Canadian businessman seeking to buy the PTL ministry's assets has put down $1 million toward the $113 million deal.

"The only reason Peter Thomas won't own it is if somebody comes in with a higher offer," Thomas said Thursday.Earlier this month, he and PTL trustee M.C. "Red" Benton signed an agreement giving Thomas until Sept. 16 to decide whether he wanted the assets. Those include the PTL satellite TV network and the Heritage USA Christian retreat near Fort Mill, S.C.