Carolina Hurricanes 'close' to being sold

Aaron Brown
July 15, 2017

Chuck Greenberg, who briefly served as owner and chief executive officer of MLB's Texas Rangers, is set to acquire the Hurricanes from Peter Karmanos for about $500 million, Bloomberg reported Thursday.

The Carolina Hurricanes have confirmed that an offer has been made to purchase the franchise.

"Since an offer has been made to purchase the team", the statement read, according to NHL.com, "Mr. Karmanos intends to evaluate that offer and also will continue to evaluate his other options, including retaining his ownership of the team".

The team will stay in North Carolina.

According to Soshnick, the transaction would be valued at $ 500 million.

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Reports about possible relocation have plagued the Hurricanes even as team officials and even Commissioner Gary Bettman have persistently and repeatedly denied them.

Karmanos, who moved the franchise from Hartford in 1997, has guaranteed that "the Hurricanes will not become the Nordiques".

Greenberg left the Rangers in 2011 after seven months as CEO and two seasons as a part owner of the team. That's almost double the $230 million Forbes estimated the value of the franchise in December 2016. 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.

The team also ranked last in the league in attendance for the second year in a row in 2016-17, drawing an average of 11,776 fans to their 18,680-seat home arena and filling it to just 63 percent capacity - their lowest per-game average since they moved into the building for the 1999-2000 season. They have the longest playoff drought in the National Hockey League at eight years.

Other reports by Free-Prsite

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