Raiders' Mark Davis Turns Attention To Las Vegas Bills Criticized Over New Restrictive Media Policy Coyotes Taking New Approach With Front Office MLB Now Investigating Padres Situation NHL Panthers Continue Front-Office Shakeup D-backs Lead MLB In Game Duration Mets Help Latino Players Earn Diplomas WNBA Lynx Turn Losses Into Profit By Winning NFL Rumblings Surrounding Broncos' Ownership Kraft Supports Raiders Move To Vegas
Upcoming Conferences and Events
May 31 - Jun 2
Hurricanes Hire Allen & Co. To Find Buyer For 50% Of Franchise
Published May 24, 2010
|Hurricanes Become Latest NHL
Franchise To Seek New Ownership
The Hurricanes "have hired Allen & Co. to sell 50 percent of the club, a move that makes the team the latest NHL franchise to seek new ownership," according to Daniel Kaplan of SPORTSBUSINESS JOURNAL. Hurricanes Owner Peter Karmanos, who controls 100% of the team, said, “My partner, Tom Thewes, passed away two years ago, and we have been putzing around trying to figure (out) how to replace the partner. We just went to Allen & Co. to explore the different ways. It’s certainly not to sell the team.” Allen & Co. Managing Dir Steve Greenberg is "handling the assignment." A source said that the search "will focus at first on North Carolina-based buyers" because part of the reason Karmanos, a Michigan resident, is selling is he "feels a need to have a local ownership presence." How a "50-50 partnership would be structured for the Hurricanes is uncertain" (SPORTSBUSINESS JOURNAL, 5/24 issue).