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Sport Report: Majority stake in Hurricanes to be sold to billionaire Tom Dundon

22:30  07 december  2017
22:30  07 december  2017 Source:   thescore.com

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Dallas billionaire Tom Dundon has signed a purchase agreement to buy a majority stake in the Karmanos will retain an equity stake in the franchise. Dundon is the 46-year-old former CEO of Reports about another possible relocation have plagued the Hurricanes even as team officials and

Thomas Dundon (born 1972) is an American businessman, specializing in financial services and entertainment. "Carolina Hurricanes confirm sale talks with Dallas billionaire ". "Carolina Hurricanes Sold To Tom Dundon For 0 Million".

a group of people in uniform© James Guillory / USA Today Sports

The Carolina Hurricanes are on the verge of being sold.

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Current owner Peter Karmanos Jr. met with Dallas billionaire Tom Dundon on Thursday, and the pair later appeared at the NHL's Board of Governors meeting in Florida.

A purchase agreement is in place and the sale is expected to be announced later Thursday, according to TSN's Darren Dreger and Pierre LeBrun.

Karmanos Jr. will not be stepping aside entirely, however.

All indications are Dundon will help stabilize the team's presence in North Carolina.

"(Karmanos Jr.) had said (all) along: he's put a lot of money into this marketplace, he believes in this marketplace, the NHL believes in this marketplace," team president Don Waddell said on Nov. 29, according to Cory Lavalette of North State Journal. "Any potential buyer is not going to have that option. They know if they're buying the team, they're buying it to keep it in Raleigh, North Carolina."

Reports of discussions between Karmanos and Dundon emerged in late November.

Back in July, a purchase offer of around $500 million was submitted by Chuck Greenberg - co-owner of the Texas Rangers - but Karmanos later said he felt Greenberg couldn't afford to make the right deal.

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Dallas billionaire Tom Dundon , who may just be the busiest man in sports business, has a If I'm in Dallas I do whatever there is to do that day. Right now I'd say between the Hurricanes and family that's 90 percent of my time." Dundon sold his roughly 10 percent stake for more than 0 million

Thomas Dundon is the new man in charge. The Dallas billionaire finalized his purchase of the Carolina Hurricanes on Thursday, in a deal which sees him gain a majority stake of the franchise. Former owner Peter Karmanos retained a minority share, selling 61 percent to Dundon , based on a

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