Hurricanes: Owner Karmanos considers offer to sell team
Jul 15 2017
Bloomberg's Scott Soshnick reported Greenberg paid approximately $500 million to buy the Hurricanes from Peter Karmanos Jr.
The Carolina Hurricanes have confirmed that an offer has been made to purchase the franchise. Greenberg will seek to add local investors to the ownership group and plans to split his time between Raleigh and Dallas, said the people, who asked for anonymity because the negotiations are private.
Peter Kermanos Jr.is now the majority owner of the Hurricanes and is joined by 18 minorty investors, including general manager Ron Francis.
Greenberg is the Rangers' former managing partner who spent seven months as their CEO before leaving in 2011. That's almost double the $230 million Forbes estimated the value of the franchise in December 2016.
Allen & Co., which has been overseeing the sale process for the team, didn't immediately return phone calls seeking comment.
His Greenberg Sports Group owns three minor league baseball franchises, including the Rangers' Double-A affiliate, the Frisco (Texas) Roughriders.
The team also ranked last in the league in attendance for the second year in a row in 2016-17, drawing an average of 11,776 fans to their 18,680-seat home arena and filling it to just 63 percent capacity - their lowest per-game average since they moved into the building for the 1999-2000 season.
The almost $500 million price tag is roughly the same as what Bill Foley recently paid to bring an National Hockey League expansion team to Las Vegas.
The 2006 Stanley Cup champions have made the postseason only once (2009) since the club captured its lone title.