December 15th, 2017

Karmanos: Sale of majority stake in Carolina Hurricanes could happen soon

By Joshua Clipperton, The Canadian Press on December 7, 2017.

Carolina Hurricanes defenceman Justin Faulk (27) looks on as Vancouver Canucks right wing Nikolay Goldobin (77) sends his first goal of the season past Carolina Hurricanes goalie Scott Darling (33) during third period NHL action in Vancouver, Tuesday, Dec. 5, 2017. The sale of the Carolina Hurricanes could be announced as early as this afternoon. THE CANADIAN PRESS/Jonathan Hayward

MANALAPAN, Fla. – A purchase agreement for the Carolina Hurricanes could be announced as early as this afternoon.

Hurricanes owner Peter Karmanos Jr. and Dallas billionaire Tom Dundon made a presentation to the executive committee of the NHL’s board of governors this morning in Manalapan, Fla.

“Pete and I built a relationship,” Dundon said after the meeting. “We want to work together, so we’re thinking about it.”

Karmanos, who would maintain a minority stake under the proposal, says approval of the agreement could happen by the end of the day after the full board of governors meet.

The NHL would then have to approve the sale.

Both men say the plan is to keep the Hurricanes in Raleigh, N.C., despite Dundon’s ties to Texas and the fact the Houston market would be attractive to the NHL.

“We like (the team) where it is,” said Dundon.

Karmanos said having a majority owner committed to Raleigh was important.

“It was never really a consideration,” he said. “The league is not amenable to moving franchises at all.”

Karmanos has owned the team since 1994 when it was the Hartford Whalers and moved the franchise to North Carolina in 1997.

He said in August he wanted to sell the Hurricanes for about US$500 million.

Note to readers: This is a corrected story. A previous version said a sale could be approved Thursday, instead of a purchase agreement.

Share this story:

Leave a Reply

You must be logged in to post a comment.