SBD/September 13, 2012/Franchises

Group Led By Ron Francis Among Five New Hurricanes Investors

Francis said loyalty to Karmanos was one reason he chose to invest
The Hurricanes yesterday announced the addition of five investor groups to the team's ownership roster as part of Hurricanes Holdings LLC. Two groups have opted to keep their deals private. Among the other three are Playmakers Management, controlled by team VP/Hockey Operations Ron Francis. Another is GreedgardenDRC, controlled by retired businesswoman Eliza Kraft Olander and McHenry Software President Brian McHenry. The final investor is Tekelec President & CEO Ron de Lange (Hurricanes). Francis said that loyalty to Hurricanes Owner Peter Karmanos Jr. "was one reason he chose to invest in the team." He said, "It was important to give a little back and help Pete." In Raleigh, Chip Alexander notes this is the second time Karmanos "has added investors." Last November, he "welcomed a group of 10 partners, which included" Hurricanes President & GM Jim Rutherford and AHL Charlotte Checkers Owner Michael Kahn. Francis said, "I'd go to a lot of the investor meetings and presentations, and the more I listened, it made sense to me to help the franchise. We see this franchise getting better and better. We want to grow our game and grow our business in this area" (Raleigh NEWS & OBSERVER, 9/13).
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