December 6, 2017 | 9:57am ET
TheFourthPeriod.com

HURRICANES CLOSE TO BEING SOLD, WILL STAY IN RALEIGH

 
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Peter Karmanos Jr., Carolina Hurricanes majority owner

 

The Carolina Hurricanes have been up for sale for well over a year, with majority owner Peter Karmanos Jr. looking to sell a significant portion of his stake in the team.

Karmanos has made traction in the last few months, and it now appears he’s close to selling a chunk of the Hurricanes to Dallas-based billionaire Thomas Dundon, according to TSN Hockey Insider Pierre LeBrun.

During Tuesday night's “Insider Trading” segment on TSN, LeBrun reported the deal is not done yet, “but it’s certainly getting close.” He added Dundon would own “a big chunk” of the team once the sale goes through.

The NHL’s Board of Governors are expected to address the matter on Thursday during their meetings.

Sportsnet’s John Shannon first reported the news last week, adding that he’s uncertain as to what stake Karmanos would be left with after the sale, which would give Dundon a controlling interest in the franchise. Karmanos is joined 18 minority owners.

LeBrun indicated that the sale is conditional on the Hurricanes staying in Raleigh, though did not specify if there was a timeline associated with it.

In July, Bloomberg and the Raleigh News & Observer reported the Hurricanes were close to being sold to former Texas Rangers co-owner Chuck Greenberg for about $500 million. It’s unclear what price tag Dundon has been working around, or if Greenberg may join Dundon as a partner.