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Tom Dundon to Buy Controlling Interest in Carolina Hurricanes

Carolina Hurricanes

The Carolina Hurricanes are set for a shakeup to their ownership, as Dallas businessman Tom Dundon has signed a purchase agreement for a controlling interest in the franchise. 

Dundon’s name recently surfaced in connection to the Hurricanes, who were being shopped by long-time owner Peter Karmanos Jr. While the pending transaction is not yet complete, NHL commissioner Gary Bettman revealed this week that Dundon has inked a purchased agreement that could lead to him assuming the controlling interest in the club.

Should the transaction come to fruition, Karmanos would retain an equity stake in the Hurricanes. Additionally, it is expected that the Hurricanes will remain in Raleigh. More from The Herald-Sun:

Dundon, 45, and Karmanos appeared Thursday before the NHL board of governors executive committee at Manalapan, Fla., to discuss the pending sale. A formal vote of the board is required for a change in ownership after the vetting process is completed.

“I am thrilled to continue to build upon what Peter Karmanos started in Raleigh,” Dundon said Thursday in a statement. “The Hurricanes are a team on the rise, and I believe we have an opportunity to take the franchise to the next level. I’m ready to get to work.”

“Tom has had tremendous success in business, and I fully expect that to continue as he takes control of the Hurricanes,” Karmanos said in a statement. “I look forward to working with him, and bringing another Stanley Cup to North Carolina.”

Karmanos purchased the franchise in 1994, when it was still the Hartford Whalers. He relocated it to North Carolina for the 1997-98 season, the beginning of a short stop in Greensboro before the Hurricanes’ PNC Arena (then known as Raleigh Entertainment & Sports Arena) opened in 1999.

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