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Closing Bell

Hurricanes' Karmanos Says Team Will Bring In 20-30 Local Investors

Hurricanes Owner Peter Karmanos today said that a deal to bring in as many as 20-30 local investors in the team "could be finalized and announced" in the next 30-90 days. Karmanos said that the unnamed investors "were willing to put up" $1-3M apiece. He added that the group "would own roughly 30 percent of the NHL team and that he would continue to control the other 70 percent." A $240M team valuation was used in computing the percentages of shares, Karmanos said (NEWSOBSERVER.com, 2/15).

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