It’s no secret that the ownership situation of the Carolina Hurricanes has been less than ideal in recent years. However, it seems current owner Peter Karmanos will hold onto the team at least for a little while longer. According to The Hockey News’ Ken Campbell, negotiations toward a sale of the team have been slowed due to financial complications.
Chuck Greenberg, a partner in the ownership group of the MLB’s Texas Rangers, has been actively pursuing a deal with Karmanos to purchase the Hurricanes. Campbell reports though that rumors had recently arisen that Greenberg had pulled out of a possible deal due to a lack of financial banking. When he reached out, Greenberg ensured Campbell that he was very much still talking to Karmanos, but that he had in fact been having issues raising sufficient funds. It is estimated that Karmanos is open to selling the team for $500MM, which is hard number for anyone to produce offhand. Take it into account the recent struggles, both in the NHL standings and in attendance numbers, for the Hurricanes and it is understandable why drumming up interest in purchasing Carolina has been somewhat of a struggle for Greenberg.
Yet, things are trending in the right direction. The Hurricanes have the longest playoff drought in the league, having last seen postseason action in 2008-09. When the ’Canes were en route to a Stanley Cup in 2005-06 though, the RBC Center was selling out. With a young core, including arguably the league’s best group of youthful defensemen, and a few top-notch prospects still to come, the future is bright. Carolina may only be 4-3-1 to start the season, but no one would be surprised if their (lack of a) postseason streak snapped this year. A few years from now, they could be a Stanley Cup contender and no one would be shocked. So, with a chance to buy low on a promising franchise, Greenberg can find a way to secure his funding if he really is serious about the transaction. Then, the Hurricanes can truly move forward, with a new ownership group at the lead.