Top Menu

Karmanos Mulling Offer for Carolina Hurricanes

Carolina Hurricanes

Carolina Hurricanes owner Peter Karmanos Jr is mulling an offer to sell the club, with reports indicating that a group that includes Chuck Greenberg is the prospective buyer.

Bloomberg reported on Thursday that Greenberg–a former part-owner and CEO of MLB’s Texas Rangers–was seeking to purchase the Hurricanes for a figure around $500 million. Greenberg would look to add local investors, and plan to keep the Hurricanes in North Carolina.

Karmanos, who originally purchased the Hurriances–then the Hartford Whalers–in 1994 is believed to be mulling the offer. In a statement issued on Thursday, the Hurricanes indicated that Karmanos intends to evaluate an offer to purchase the team. The club did not specifically name Greenberg as the perspective buyer, but one Hurricanes official noted that a sale would lead to the team remaining in North Carolina. More from The News & Observer:

A statement issued by the team Thursday said: “Since an offer has been made to purchase the team, Mr. Karmanos intends to evaluate that offer and also will continue to evaluate his other options, including retaining his ownership of the team.”

Hurricanes president Don Waddell said Thursday the offer, if accepted, would result in the team staying in Raleigh. “The team is not moving,” he said.

Bloomberg News reported a sale of the team for about $500 million could be close to being completed. The report said the team could be sold to an ownership group that includes Chuck Greenberg, a former part-owner and chief executive officer of the Texas Rangers.

Greenberg could not be reached for comment. Waddell said he could not comment on the proposed price or potential ownership group or how long the process could last.

The Hurricanes have struggled in terms of attendance in recent years, and averaged an NHL-worst 11,776 fans per-game for the 2016-17 season. However, the team’s lease at Raleigh’s PNC Arena runs through 2024, and NHL commissioner Gary Bettmann denied any possibility of the team relocating in remarks made earlier this year.

Greenberg, it should be noted, currently owns several Minor League Baseball teams, including the State College Spikes (Short Season A; NY-Penn League), Myrtle Beach Hurricanes (High A; Carolina League), and Frisco RoughRiders (Class AA; Texas League).

, , ,