I agree. He never wanted to be the sole owner. And he wasn't for most of the time he's been involved with the franchise. Only after his previous partner died did he take full ownership...which coincides with the start of the sale rumors/actions. If this turns out to be true, then this probably gets him back to stake in ownership that he really wants: controlling owner for the decision making process but at about half the stake/risk. This also gives him the ability to make arrangements for a liquidation upon his death to satisfy his family concerns, as the "junior partner" could purchase the remaining ownership pretty easily. I bet PK is feeling pretty good about this assuming the valuation is anywhere close to what he was originally looking for (~$400M).
Hurricanes sale formally closed, Tom Dundon now majority owner
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I agree. He never wanted to be the sole owner. And he wasn't for most of the time he's been involved with the franchise. Only after his previous partner died did he take full ownership...which coincides with the start of the sale rumors/actions. If this turns out to be true, then this probably gets him back to stake in ownership that he really wants: controlling owner for the decision making process but at about half the stake/risk. This also gives him the ability to make arrangements for a liquidation upon his death to satisfy his family concerns, as the "junior partner" could purchase the remaining ownership pretty easily. I bet PK is feeling pretty good about this assuming the valuation is anywhere close to what he was originally looking for (~$400M).
sctvman
Registered User
Thomas Dundon info on Twitter: @ice_chip Younger guy, likes sports, he is part owner of Top Golf, & became a billionaire after he stepped down & his share of a sub prime lender he led was bought out.
Slashers98
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The same François Gagnon who said the Coyotes were moving to downtown Phoenix in 2015. Let's wait and see what happens...
Hal1971
Registered User
Same Gagnon that wrote that Vegas and only Vegas application was accepted for the expension....
tony d
New poll series coming from me in June
the halleJOKEL
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Hulkacaniac
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Nothing could have ever been "wrapped up" in any case until the December 5-6th NHL Board of Governers meeting. The sale will either be executed next week or it will drag on for another year. Which, in either case, likely has an effect on why this story came out now.
Gnashville
HFBoards Hall of Famer
It seems like some can't hide their disappointment at a team actually staying and not relocating
tarheelhockey
Offside Review Specialist
The Greenberg bid is dead, per Waddell quoted by WRAL. Dundon mentioned by name as the next in line.
Sale of Hurricanes stalls again, 'multiple groups' pursuing franchise :: WRALSportsFan.com
WRAL is owned by Canes minority owner Jim Goodmon, who uses it as a mouthpiece for insider news about the team. Lots of good quotes in there for those who have been itching for an update on this saga.
Sale of Hurricanes stalls again, 'multiple groups' pursuing franchise :: WRALSportsFan.com
WRAL is owned by Canes minority owner Jim Goodmon, who uses it as a mouthpiece for insider news about the team. Lots of good quotes in there for those who have been itching for an update on this saga.
I remember the exact same thing being said many moons ago when it was to be "sold" to Greenberg.
Let's wait until we put in place the "Canes are saved" banners.
Also, I still believe a likely possibility is the Canes moving to Houston. And a Texan maybe buying the team sounds to me like it may possibly go in that direction.
"likely possibility" is laughable. I assume you aren't from the US, Texas is a massive state. A billionaire from Dallas is no more likely to favor a city 3 hours south (Houston) than he is in Raleigh. If you think otherwise you are deluding yourself in a very transparent way.
Furthermore, Houston just got a new billionaire owner for their NBA team. Why would he open his current NHL/NBA schedule monopoly and arena to share it with another billionaire who wants to move his hockey team in? It isn't impossible, but it certainly isn't a "likely possibility". A more "likely possibility" is that the Billionaire already in Houston would pay for an expansion team to double down on his investment in the Rockets.
BattleBorn
50% to winning as many division titles as Toronto
I don't think they move if they're sold, but the fact that he's Texan and not from Houston doesn't change the fact that moving to Houston is probably a good move from a business POV wherever the guy is from.
However, as has been repeated numerous times on this board, the Canes apparently have an extremely sweet lease deal on their arena so they've got a little more flexibility to make moves to stay than some other teams that may be relocation candidates.
Mightygoose
Registered User
Agreed, I don't see a Canes to Houston connection either. That would only be possible if the Rocket's owner was looking at buying the team. Plus there's 6 years left on the lease after this season so any sale would only be for those keeping the team put right now.
It's a feel of optimism for sure but it would be wise for Canes fans to remain guarded to until an actual sale agreement is reached plus the following approval.
It's a feel of optimism for sure but it would be wise for Canes fans to remain guarded to until an actual sale agreement is reached plus the following approval.
Finlandia WOAT
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The only reason they're a relocation candidate is because they have crap attendance (which is negligible in the grand scheme of things but makes for good hot takes) and they've been for sale for a while.
Their lease is great; their relationship with the local powers-that-be has no warts; the sports arena, while not new, is not yet at "steadily ageing" either.
tarheelhockey
Offside Review Specialist
To me the most telling thing is that Karmanos is still signalling VERY strongly that he intends to keep the team in place. I mean, at this point it wouldn’t even be unreasonable from a Canes fan standpoint if he were to show some ambivalence, some “I hope we can” type language. But he’s been nothing but firm and direct, both in person and through the aforementioned media mouthpiece, that he’s not even considering a move and that the league is with him on that point.
That just doesn’t square with being a week away from signing them off to relocation.
Glacial
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I had the same thought. When Greenberg had a preliminary deal, it was spoken with great certainty (just like many Coyotes 'buyers') and we see where the truth ended up. Time will tell how authentic this deal is.
For the Hurricanes to relocate to Houston, even before getting league approval, Mr. New Guy would need to make a deal with the guy who owns the Houston arena to play there, something which can be quite complicated if he has his own ambitions for a NHL team. The Canes-to-Houston conduit doesn't align up even if this guy becomes the new Hurricanes owner, at least not til Karmanos is out of the picture and the Rockets owner can then partner with the new owner.
I would find it difficult to believe a Carolina>>Houston move is in the works. For a few reasons:
1- The league balance. It seems clear the intention is that either Seattle or Houston become team #32, and that fills the Western Conference. Moving Carolina there doesn't help the situation at all.
2- If the sale were for a relocation, then QC would make much more sense, because the League didn't really 'deny' their expansion bid, which means prospective ownership there is in good with the league yet.
3- Fertitta HAS to be the owner is Houston ever materializes. There is no other avenue to make it work there. So, a move to Houston means that this guy from Dallas buys them, and then they are sold AGAIN. That doesn't make sense.
Just a few thoughts...
1- The league balance. It seems clear the intention is that either Seattle or Houston become team #32, and that fills the Western Conference. Moving Carolina there doesn't help the situation at all.
2- If the sale were for a relocation, then QC would make much more sense, because the League didn't really 'deny' their expansion bid, which means prospective ownership there is in good with the league yet.
3- Fertitta HAS to be the owner is Houston ever materializes. There is no other avenue to make it work there. So, a move to Houston means that this guy from Dallas buys them, and then they are sold AGAIN. That doesn't make sense.
Just a few thoughts...
Boom Boom Apathy
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Interview with Waddell by a local news reporter today. He repeats multiple times that the sales agreement (and the league) would mandate the team stay in Raleigh.
Says Greenberg isn't completely out yet, but hasn't been able to raise the capital. Also says that beyond Greenberg and Dundon, there are 2 other groups in the mix. Says the multiple suitors which is making the process move faster, but still not a done deal.
The reporter asked him to name the other 2 parties in the mix and he refused, but the report asked outright if they were from Quebec and he said no and they aren't local either.
Says Greenberg isn't completely out yet, but hasn't been able to raise the capital. Also says that beyond Greenberg and Dundon, there are 2 other groups in the mix. Says the multiple suitors which is making the process move faster, but still not a done deal.
The reporter asked him to name the other 2 parties in the mix and he refused, but the report asked outright if they were from Quebec and he said no and they aren't local either.
TheLegend
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DaveG
Noted Jerk
Damnit man, what did we tell you about trying to bring logic in to this.
tarheelhockey
Offside Review Specialist
powerstuck
Nordiques Hopes Lies
Only issue I have with this is that the NHL is the most gate-driven of the top 4 pro-leagues. That sweet deal Canes have with the CenAuth can be sweet as sugar but it only compensates for some lose of the revenue due to success at the gates.
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