Hurricanes sale formally closed, Tom Dundon now majority owner

[tarheelhockey]

Relocation is never totally out of the question for any franchise, but this makes it an unlikely possibility for the distant future. This is an experienced owner putting a lot of coin into an up-and-coming team, not a short-seller buying a distressed franchise on the cheap. If the league requires its usual no-relo window (5 years?), then by that time attendance should be years removed from the "danger zone" and the team should be in a competitive mode with associated revenue coming in. He's not going to relocate them under those conditions.

Scratch us off the list, folks.

 

[93LEAFS]

I remain skeptical of how interested he is in keeping it there long-term. Surprised someone would pay 500m for a team and be planning to keep them in Raleigh. It wouldn't be the first time a new owner outright lied.

 

[cbcwpg]

Relocation is never totally out of the question for any franchise, but this makes it an unlikely possibility for the distant future. This is an experienced owner putting a lot of coin into an up-and-coming team, not a short-seller buying a distressed franchise on the cheap. If the league requires its usual no-relo window (5 years?), then by that time attendance should be years removed from the "danger zone" and the team should be in a competitive mode with associated revenue coming in. He's not going to relocate them under those conditions.

Scratch us off the list, folks.

The last publicly known no-relo clause was with the Thrashers and that was 7 years. But, really, the NHL can make any deal they want and insist on a longer no-relo.

 

[BattleBorn]

is this a legit source?

Greg Wyshynski retweeted it. So I guess.

 

[The Feckless Puck]

Maybe people will stop offering your team for re-location now.

Finally, the rumors will stop about them moving.

Well...

I remain skeptical of how interested he is in keeping it there long-term. Surprised someone would pay 500m for a team and be planning to keep them in Raleigh. It wouldn't be the first time a new owner outright lied.

Good news for 'Canes fans. Glad to see this and hope it all works out for the best for the franchise and the fanbase!

 

[Roboturner913]

I remain skeptical of how interested he is in keeping it there long-term. Surprised someone would pay 500m for a team and be planning to keep them in Raleigh. It wouldn't be the first time a new owner outright lied.

well of course you do

 

[mikelvl]

Good for the Whalers. But it is starting to appear that Quebec City is getting screwed. Between this news and Jeremy Jacobs spearheading opposition to a team in QC, my optimism and hope for a return is waning.

 

[tarheelhockey]

I remain skeptical of how interested he is in keeping it there long-term. Surprised someone would pay 500m for a team and be planning to keep them in Raleigh. It wouldn't be the first time a new owner outright lied.

I'd be much MORE surprised if someone spent $500M on a team with the intention of losing another $100+M trying to relocate it, breaking all sorts of public trust along the way.

It would be far cheaper and easier to just buy Team #32 than to go that route.

 

[Roboturner913]

Team has been named the Hurricanes for 20 years friends, how about let's put that Whaler stuff down please.

 

[TheOllieC]

I'd be much MORE surprised if someone spent $500M on a team with the intention of losing another $100+M trying to relocate it, breaking all sorts of public trust along the way.

It would be far cheaper and easier to just buy Team #32 than to go that route.

Exactly. It makes far less sense to fork over that much knowing that it'll take significantly more to move it.

 

[viper0220]

Kind of sucks for Quebec City but I had a feeling that they were not going to get a team(evenbefore Vegas happened, I knew Quebec City would not happen.)

 

[Mightygoose]

Well let's hope this comes together.

This is the only way the relocation rumours will go away for good. There's still 7 years left on the lease so I doubt it will be a flip.

 

[Boom Boom Apathy]

Too bad Swamp Rabbits is already taken.

 

[NotOpie]

MOD

Kind of sucks for Quebec City but I had a feeling that they were not going to get a team(evenbefore Vegas happened, I knew Quebec City would not happen.)

I don't believe this has anything to do with QC's chances. There will be expansion. The Islanders and the Coyotes still have their various issues (although as a Canes fans, I don't wish relocation or even relocation rumors on anybody). The sad reality is that the Canes were almost certainly never leaving Raleigh under the circumstances dreamed up by the rumor mongers.

 

[Killion]

.... for Gods sake PEOPLE! do some research. absolutely nothing in this guys background (look at what he pulled off in Pittsburgh with the Penguins when they were ready to move to Portland) that suggests he's some predatory opportunist, someone who buy's distressed assets low & then moves or flips them. and clearly, he aint "buying low" from PK. top dollar for yes, distressed asset but one thats been badly managed for years in what is an excellent market with huge, untapped potential. name a city, any city/region in the Lower 48 that's NHL ready with a building that he can control & manage with market metric's equal or superior to those of Raleigh & the Triiangle... g'head... I've got all day....

 

[KingsFan7824]

Like the Oilers being the only former WHA team that didn't move because not only did they win a championship, but had one of, if not the greatest dynasties in league history, I think the NHL would do all they could to keep a team that's won a championship in the city where they won the championship. Technically the Islanders moved, but not exactly a relocation.

The league even went so far as to allow the Barons to merge with the North Stars instead of fold. Then a few years later basically demerged with the North Stars to become the Sharks. Leagues like stability. They don't like total failure, as in extinction. Look up in the history books one day, no league wants to see failed by a team name. Especially one that has won such a prestigious award.

 

[Tom ServoMST3K]

Why? Carolina (asset wise) is in significantly better shape then LV is (Hanifin, Slavin, Faulk, etc). Carolina (for better or worse) also already has a built in fan base.

There's a fundamental difference between buying an empty seat at the table, and paying the rest of the table to make space for you.

 

[Finlandia WOAT]

no

the arlington hurricanes of dallas

Sponsored by BP.

#bpcares

 

[tarheelhockey]

Sponsored by BP.

#bpcares

Bill Peters?

 

[Flukeshot]

Good for Canes fans...

Also I'm sure the league will be happy to have the $500m franchise value re-confirmed. (understanding there are a lot of variables).

 

[Finlandia WOAT]

Bill Peters?

Bill Peters will be retained because of convenient initials, but actually British Petroleum.

 

[cgf]

Curious to see if this puts more pressure on the team to get back into the playoffs to start building local hype; and whether this lets them spend a little more to hold onto talent. But I'm happy for canes fans. They've got an interesting young team that's in position to make an aggressive move over the next year; and most of HFcanes have been pleasant on the main/trade boards.

 

[Tom ServoMST3K]

Anyways, while it's a ridiculous price for the buyer, its a very good price for the league and the canes prospects in NC

 

[Roboturner913]

Bill Peters will be retained because of convenient initials, but actually British Petroleum.

BP, the company that has spilled so much oil into the Gulf of Mexico that they've given up cleaning it and just started drilling for new water

 

[MNNumbers]

Personally, I don't believe the 500M price.

NHL will always say it's that, but these are private deals, and we'll never really know.