With discussions ongoing about a potential PNC Arena lease extension for the Carolina Hurricanes, officials are expressing optimism about the negotiations.
The Hurricanes are playing at Raleigh’s PNC Arena under a lease agreement that expires in 2024. While also mapping out potential renovations to the facility, arena owner Centennial Authority is making an effort with the Hurricanes to extend the team’s lease.
On Friday, authority officials expressed optimism about the ongoing discussions. There is still work to be done before an agreement could be finalized, but the authority seems to feel that the discussions are unfolding in a positive manner. More from the News & Observer:
The Hurricanes’ lease for the use of PNC Arena expires in 2024. The authority, the arena landlord, has hired CAA ICON, a strategic management consulting firm, to head up negotiations with Gale Force Sports & Entertainment, the Canes’ parent company.
Authority chairman Tom McCormick characterized Friday’s CAA ICON presentation, which lasted about 90 minutes in a closed session, as “informative and positive.” Asked if he was optimistic about a deal being struck, McCormick said, “Yes, I’m always optimistic. I’m sure we will get this worked out.”
None of the terms of a proposed lease extension are being made public. Nor did McCormick want to guess how long it might take to complete an extension.
“The Hurricanes are operating under an existing lease now, so a lot of that will be up to them and how eager they are to get a new agreement right away, or whether they want to wait a little longer to do it,” McCormick said.
PNC Arena originally opened in 1999, and has been home to the Hurricanes and N.C. State men’s basketball throughout its history.