Hurricanes sale formally closed, Tom Dundon now majority owner

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Negan4Coach

Fantastic and Stochastic
Aug 31, 2017
5,817
14,762
Raleigh, NC
Yeah except he's from Dallas not Houston.

Do you really think this guy is buying the team just to move it to Houston when the new Rockets owner has stated that he would like controlling interest in a Houston-based team? How does that make any sense?

I'm pretty sure they don't get American geography- not realizing that Houston and Dallas, although being in the same state, are as far apart as Washington, DC. and Raleigh.
 

YoungGuns

Registered User
May 22, 2013
288
0
Calgary, AB
I'm sure the board of governors is going to turn down Seattle's bid at $600/700M so they can honor a hand shake that Quebec's bid is still in play for $500M.

If they are still "locked in" at $500M, then they are effectively "locked out" of a franchise with any other viable cities prepared to make bids now at $600+M.
If they were "locked out", then why would they put their application on hold? Wouldn't it have been made clear that QC bid was flat out rejected, and must reapply. I don't recall anybody saying they must reapply.

"We are impressed by the application that was put forward by Quebecor on behalf of Quebec City and that's why the application wasn't rejected, it was deferred at least for the time being." - Gary Bettman

In either case, as most of us have suspected for a long time, QC likely only ever gets a team via relocation unless the league opts to go for 34 teams.
 

Ernie

Registered User
Aug 3, 2004
12,838
2,290
On this day 12/07/2017 we can officially put these Hurricane to Quebec city rumors to an end. It's over with QC, you are not getting the hurricanes.

Thank you.

For a while, at least. These rumours will never die as long as the Hurricanes keep drawing as poorly as they do.
 

Canes

Registered User
Oct 31, 2017
25,040
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An Oblate Spheroid
For a while, at least. These rumours will never die as long as the Hurricanes keep drawing as poorly as they do.
Dundon could finance and build himself an arena in Raleigh, or even the local government could build a new arena with a sweetheart lease for 50 years, and Canadian media would still be writing about potential relocation so you aren't saying much.
 

Acesolid

The Illusive Bettman
Sep 21, 2010
2,538
323
Québec
As soon as the sale is finalized, Karmanos can go crazy all he wants. He'll be a minority owner, which makes it even easier to get rid of him now.

As for the sale? It appears to be imminent so don't hold your breath.

Yes, it is imminent. Truly imminent. Two weeks away for sure. Maximum.

Sorry for my cynicism, but until money has changed bank accounts I'll stay extremely sceptical.
 

Boom Boom Apathy

I am the Professor. Deal with it!
Sep 6, 2006
48,395
98,076
Per the NHL.COM article.

"I want to address one manner about as crystal clear and as absolute terms as I can: Tom Dundon is buying his interest in the Hurricanes to have the Hurricanes in Carolina," Commissioner Bettman said. "This is not a team that is being moved. The rumors that it might be moving somewhere else are absolutely incorrect, made up, fabrications, wrong, wrong, wrong."

"The club is not going anywhere with Mr. Dundon's purchase, and for those of you who know geography, the fact that he lives in Dallas and that happens to be in the same state as Houston has nothing to do with anything," Commissioner Bettman said. "He's buying the club to have it in Carolina. I want to be crystal clear on this because it's really not fair to the players, the fans or anybody in the (Research) Triangle that this rumor has started. It's just not accurate."

Sorry @madhi19 and @Acesolid
 

HisIceness

This is Hurricanes Hockey
Sep 16, 2010
40,448
71,158
Charlotte
Per the NHL.COM article.



Sorry @madhi19 and @Acesolid

You know there will still be people out there who will refuse to believe this. It doesn't fit their agenda and therefore is not true. Hopefully on this board the "Canes to Quebec" posts will finally stop, and also "Canes to Houston/Seattle". Can't help the idiots on Twitter though, and there are many of them.
 

Mightygoose

Registered User
Nov 5, 2012
5,617
1,443
Ajax, ON
A 7 year non-relocation agreement signed per Frank Seravelli.

This would exceed the lease unless it's reto-active to the start of the season.

Should get the rubber stamp next month IMO. Then this is DunDone....sorry I couldn't resist :D
 

CorbeauNoir

Registered User
Apr 13, 2010
928
154
This obsessive nature and bitterness that some have towards certain NHL teams and where they should be relocated to is amazing. It's got to be unhealthy.

I don't see this kind of mindset from most NBA/MLB/NFL fans.

Because it's a small element of an overarching national attitude. Sorry, I'm just going to say it since I've had 30 years of being born into and directly surrounded by it by this point: Canadians have some of the biggest inferiority complexes of anyone I've come across. If you're incapable of defining any facet of your existence without feeling compelled to frame it as a direct comparable against a solitary, foreign country, what does that say about your own identity? I find it humiliating, honestly.
 

BJNT

Registered User
Jan 12, 2015
56
25
You know there will still be people out there who will refuse to believe this. It doesn't fit their agenda and therefore is not true. Hopefully on this board the "Canes to Quebec" posts will finally stop, and also "Canes to Houston/Seattle". Can't help the idiots on Twitter though, and there are many of them.

Honestly. I thought if we would get a relocated team to Houston that it would be the Coyotes or the Flames because of realignment issues.
 

aqib

Registered User
Feb 13, 2012
5,256
1,309
Given how fast this deal appears to be closing can we now agree that the reason the Greenberg deal was taking so long wasn't because it was "complicated"
 

No Fun Shogun

34-38-61-10-13-15
May 1, 2011
56,397
13,251
Illinois
Call me paranoid, but something about this smells like haphazard arrangement to me. Time to take out my crazy jump to conclusion mat:

Observation #1 - With an expansion team having been purchased for $500 million in the recent past, in all likelihood the NHL was under pressure to not allow any franchise to be sold for under that amount, a value likely exceeding what some of the lower earners would've reasonably expected to sell for on the open marked previously. See the sales price for the Thrashers six and a half years ago, a comparatively scant $170 million.

Observation #2 - With the proposed split in ownership potential, one could make the argument that the prospective sales prices might've been closer to $250 million as the most that they could expect from local buyers given the financial realities of the team. We saw this drag out significantly in Carolina possibly as a result as well, with potential buyers hoping to haggle and Karmanos on a strict floor he couldn't go below

Observation #3 - The NHL has already announced that an expansion team would be worth $650 million for Seattle, making a likely new minimum sales price $150 million higher down the road.

Paranoid conclusion - It could be said that with these points in mind, the current and future owner(s) of the Canes could view this as a short term arrangement with the knowledge that they'd have half of a split for a $150 million bump in franchise value when Seattle joins the league, creating an almost guaranteed profit if they choose to sell the team down the line.

So yeah, I found a way to turn what should be universally viewed as good news for the longevity as Carolina in a stupidly insidious light. You're welcome?
 

Oilers Propagandist

Relax junior, it’s just a post.
Aug 27, 2016
8,064
5,995
Edmonton, AB
Flames to Quebec or Houston pls. Heck even Kansas City, st.paul, Salt Lake City, Portland, New Orleans whatever, who cares. Oilers need more of the 'Berta pie.
#MOGA
#Alberta'sTeam
 

SladeWilson23

I keep my promises.
Sponsor
Nov 3, 2014
26,735
3,220
New Jersey
I would just like to welcome Hurricanes fans to the not relocating for the foreseeable future group with the Florida Panthers.

The pros: you get to watch your hockey team for a few more worry free years
The cons: you're still watching your hockey team for several more years :laugh:

Both teams are in similar situations. Both have tons of young talent, but can never seem to get over that hump to be perennial contenders. Being able to spend money is important though.
 

patnyrnyg

Registered User
Sep 16, 2004
10,877
891
I mean I'm happy for the Canes fans, but looking at it from a league POV and whats best for the sport, they should really get the hell out of there. Hockey is just not popular enough and could get a a lot more money somewhere else. Watching a Canes game with half the arena empty is depressing.
I watch a lot of hockey games. If the Rangers aren't playing, I will usually flip around betweeen 2-3 different games every night. Maybe you get a special camera in your package, but when I watch games, the cameras are focused on the ice and I am not really concerned with how many people are in the arena if I am watching on tv. I have also been to many games. Most with packed houses. A few times with the place 1/2 empty. There are benefits when it is 1/2 empty. Short bathroom lines, much easier getting in and out of the parking lot, etc.
 

garnetpalmetto

Jerkministrator
Jul 12, 2004
12,476
11,842
Durham, NC
who is Tom Dundon

Dallas billionaire Tom Dundon inks deal to buy NHL's Carolina Hurricanes | Sports Business | Dallas News

Dundon, 46, is chairman and managing partner of Dundon Capital Partners, a Dallas-based private investment firm. He also is majority owner of Employer Direct Healthcare and serves as the co-chairman of Dallas-based Topgolf.

Most of his fortune was amassed when he took auto loan giant Santander Consumer USA public in 2014 in a trading debut that raised $1.8 billion. He left the company in July 2015.

Dundon also is the prime money person behind the new Trinity Forest Golf Club in southeast Dallas. In May, it will become the new host of the AT&T Byron Nelson golf championship.

Who is Tom Dundon? What to know about the Hurricanes' prospective new owner

While the Dallas-based businessman is likely anonymous to most hockey fans, you've probably heard about his most successful venture.

Dundon, 45, is the primary investor in Top Golf, the wildly popular franchise of tricked-out recreational driving ranges popping up around the country. The closest Top Golf to Raleigh recently opened across the state in Charlotte, but it's a safe bet one will arrive to the Triangle soon enough.
Dundon's exact net worth isn't public information, but his history of business dealings point to earnings well above $1 billion. Dubbed a “brilliant executive and investor" in a 2015 Dallas Morning News story, he made his fortune as CEO of Santander Consumer USA, a company which provides auto loans to buyers with poor credit. He stepped aside as Santander CEO in 2015, walking away (under scrutinous circumstances) with his 10 percent stake worth about $900 million, and started the Dallas investment firm DCP.

Dundon's most successful investment to date, without question, has been with Top Golf, a private company which carries an approximate valuation north of $2.7 billion.

For Dallas’ newest billionaire, early failure set stage for success | Business | Dallas News
 
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