Hurricanes: Owner Karmanos Considers Offer To Sell Team


Per Jeff Gravley of WRAL-TV, the Hurricanes signed a letter of intent to be sold to Greenberg that ensures they will remain in Raleigh, North Carolina.

USA Today reports current owner Peter Karmanos Jr., who bought a majority stake in the team in1994 for $48 million, has agreed to sell to a group of investors led by Chuck Greenberg, former CEO of MLB's Texas Rangers.

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The team has been owned by Karmanos since 1994, when he purchased the Hartford Whalers. He also owns several minor-league baseball teams, including one in Myrtle Beach, S.C.

Allen & Co., which has been overseeing the sale process for the team, didn't immediately return phone calls seeking comment.

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The Hurricanes are now owned by Peter Karmanos, who has owned the organization since 1994. Bettman said at the All-Star game in January that "the club is not moving" and NHL deputy commissioner Bill Daly echoed that sentiment by saying the league is committed to Raleigh in the same manner it has stuck with Phoenix during years of struggles for the Coyotes. He points out the price tag will be close to the fee Bill Foley paid for a Vegas expansion team and close to double Forbes' $230 million estimate of the Hurricanes' value. It's also more than double Forbes' recent estimate of the team's value - $230 million, least among US hockey teams.

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