Tom Dundon signs agreement to purchase Hurricanes

Feb 13, 2016; Raleigh, NC, USA; Carolina Hurricanes owner Peter Karmanos Jr. stands next to the Stanley Cup before the game against the New York Islanders at PNC Arena. The Carolina Hurricanes defeated the New York Islanders 6-3. Mandatory Credit: James Guillory-USA TODAY Sports
James Guillory-USA TODAY Sports

The Carolina Hurricanes franchise will be under new ownership in the very near future, as it was revealed on Thursday by NHL commissioner Gary Bettman that Dallas businessman Tom Dundon has signed an agreement to become the majority owner of the franchise.

Peter Karmanos Jr. will remain on board as a minority owner, with he and Dundon making a presentation to executive committee of the NHL’s Board of Governors Thursday morning. Dundon will own 52 percent of the franchise, and after three years he’ll have the option to purchase the other 48 percent from Karmanos according to Pierre LeBrun of The Athletic.

Karmanos had been the majority owner of the franchise since 1994, when the team was based in Hartford, Conn. At the time of the purchase, a commitment was made to keep the team in Hartford for at least four years, but the franchise would be moved to Raleigh, N.C., following the 1996-97 season.

Since the move to North Carolina, the Hurricanes have made five playoff appearances and won the Stanley Cup once. This year’s team is looking to end a stretch of eight straight season in which the Hurricanes have not reached the postseason, with Hurricanes last reaching the playoffs in 2009.

With Dundon being based in Dallas, questions arose as to whether or not a sale could set things in motion with regards to the Hurricanes being relocated. However it was reported by multiple outlets that the team would need to remain in Raleigh in order for a sale of the team to be approved.

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