Former Texas Rangers owner near deal to buy Hurricanes, report says

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Per Jeff Gravley of WRAL-TV, the Hurricanes signed a letter of intent to be sold to Greenberg that ensures they will remain in Raleigh, North Carolina.

The Hurricanes are now owned by Peter Karmanos, who has owned the organization since 1994. Bloomberg reported the sale price at roughly $500 million.

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As for the potential new owner, differences with partner Nolan Ryan led to Greenberg's resignation from the Rangers in 2011. He also owns several minor-league baseball teams, including one in Myrtle Beach, South Carolina.

Karmanos, 74, has owned the franchise since 1994, when he joined the late Thomas Thewes and Jim Rutherford in purchasing the Hartford Whalers. Seven of the team's 12 publicly identified minority investors contacted by The Associated Press either declined comment or did not respond to phone calls and emails seeking comment. But NHL commissioner Gart Bettman disputed rumors the team might move, saying, "I don't think anyone needs to worry about the future of the franchise in Carolina". As time passed, reports emerged that he'd be willing to sell, even if the team was relocated. It's also more than double Forbes' recent estimate of the team's value - $230 million, least among USA hockey teams. Their average of 11,776 in attendance during the 2016-17 season was the lowest in the league and only filled 63 percent of their arena. But as two conference championships and a Stanley Cup win in 2006 will attest, it is possible to have a championship caliber team in Carolina. Their eight-year playoff drought is the longest in the National Hockey League.

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