Former Rangers CEO Chuck Greenberg close to buying Hurricanes for $500 million

Carolina Hurricanes

Former Rangers CEO Chuck Greenberg close to buying Hurricanes for $500 million

Karmanos purchased the Hurricanes as the Hartford Whalers in 1994, then moved the team to North Carolina in 1997.

Peter Kermanos now the majority owner of the Hurricanes and is joined by 18 minorty investors, including general manager Ron Francis.

Carolina Hurricanes owner Peter Karmanos Jr. said through a statement Thursday that he has received and is considering an offer to sell the team. Karmanos stated back in January that he would be open to selling the organization that he has owned for 23 years. 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.

In its most recent franchise valuations, Forbes magazine ranked the Hurricanes last in the National Hockey League at $230 million. He points out the price tag will be close to the fee Bill Foley paid for a Vegas expansion team and close to double Forbes' $230 million estimate of the Hurricanes' value. The reports also state that, if the purchase goes through, Greenberg would keep the Hurricanes in North Carolina.

The 2006 Stanley Cup champions have made the postseason only once (2009) since the club captured its lone title. The Hurricanes averaged a league-worst 11,776 fans last season, with a record of 36-31-15.

Greenberg sold his stake in the Rangers in 2011. He also owns three minor-league baseball teams, including one in Myrtle Beach, S.C., and the Frisco RoughRiders.

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