The Carolina Hurricanes close to being sold. An announcement regarding the sale of the Hurricanes is expected soon. The speculation is that team will be sold to Dallas businessman Tom Dundon. Hurricanes team President Don Waddell confirmed this in a statement last week. This proposed sale dominates the news coming out of the NHL Board of Governors meeting this morning.

The Hurricanes team president spoke on the record last week, confirming that Dundon has an interest in Hurricane ownership. While Hurricanes owner Peter Karmanos Jr. has been working to sell the Canes for months, he has been unsuccessful.  It has been reported, via TSN’s Bob Mckenzie that Karmanos Jr. is “on the verge” of selling a controlling interest in the team to Dundon. This news comes after months of negotiations with a group headed by sports attorney Chuck Greenberg. That group was unable to secure the financing required to obtain the team.

The Hurricanes are valued, according to a Forbes report 27th of the 31 teams at $370 million. The asking price demanded by Karmanos Jr. is between $450 and $500 million.

Relocation Possibilities

With the news, there is an immediate response from fans and pundits via social media outlets that the ‘Canes would relocate. Additionally, multiple destinations are preparing for housing an NHL team. Quebec City and Houston are ready now for a relocation. Furthermore, the Seattle City Council just approved a $660 million renovation of Key Arena. This was done with the intent of acquiring an NHL team soon. Waddell squashed those rumours stating that the one condition required of any buyer is that the Hurricanes remain in Raliegh. He said that relocation is “not an option” and has not wavered on that stance.

Dundon Looking To Join Select Group of Sports Owners

Dundon has no previous sports team ownership on his resume. However, he is a primary investor in the Top Golf a national golf and entertainment company. This lack of experience in team ownership begs the question, why the NHL? Waddell says “He’s had interest in sports for a long time, obviously being in the golf business,” Waddell said. “He looks at it as an opportunity to own one of the four major sports franchises. To be a part of that select group, I think, is appealing.”

Embed from Getty Images


View the original article on Last Word On Hockey: The Carolina Hurricanes Close To Being Sold