Former Texas Rangers owner near deal to buy Hurricanes, report says


Former Texas Rangers owner near deal to buy Hurricanes, report says

The Carolina Hurricanes may have found a new owner that's willing to keep them in Raleigh.

The team will stay in North Carolina.

Chuck Greenberg, the former co-owner and CEO of the Texas Rangers, is close to purchasing the NHL's Carolina Hurricanes for about $500 million, according to multiple reports. Team owner Peter Karmanos said in January that he was open to selling the franchise he's owned since 1994, when it was playing in Hartford, Connecticut, as the Whalers.

Thirteen years into the franchise's stint in Carolina, Karmanos went on record to say, "We'd have to be idiots to move from here", according to ESPN, but it appears a sale could very well be in the works just two years later.

Greenberg is the Rangers' former managing partner who spent seven months as their CEO before leaving in 2011.

Allen & Co., which has been overseeing the sale process for the team, didn't immediately return phone calls seeking comment.

But NHL commissioner Gary Bettman has repeatedly shot down any relocation speculation. The city of Las Vegas has got to be the 31st team in the league and the Golden Knights, whose owner Bill Foley, has paid approximately $ 500 million to bring a club in the City of vice, will compete in the first season of their history, starting in October. In Forbes' most recent list of valuations, the Hurricanes were valued at around $230 million, which was the lowest valuation of any American team now in the National Hockey League.

The Hurricanes won the Stanley Cup in 2006, but haven't made the playoffs in the past eight seasons.



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