SBD/October 3, 2013/Franchises

Karmanos: No Sale Of Hurricanes Contemplated, No Pressing Need For Investors

Karmanos has brought in new investors in recent years, but still owns 75% of the team
Hurricanes CEO & Owner and former Compuware CEO Peter Karmanos Jr. said that neither the firing of his son, former Exec VP & Assistant GM Jason Karmanos, from the team nor his own firing as a consultant for Compuware "would affect the running or direction of the hockey franchise, or result in a possible sale," according to Chip Alexander of the Raleigh NEWS & OBSERVER. Karmanos said, "The team is not for sale. As long as I’m breathing I will run the team and try to win another Stanley Cup." Karmanos has "brought in new investors in recent years but said he still owns 75 percent of the franchise." He said that he "may look to add a few new investment groups." But he added, "There’s not a pressing need for investors. We accomplished what we wanted to." Jason Karmanos’ dismissal "was called a 'family matter' by his father on Sept. 8, and Peter Karmanos declined to comment further on it." Peter Karmanos "left the door slightly cracked regarding Jason Karmanos possibly returning to the Hurricanes at some point and maintaining the family involvement with the team." Jason Karmanos on Wednesday "was not sure if that would occur." He said, "I have no idea who would own the team if something should happen to my dad. That is something our family has never discussed." Meanwhile, Peter Karmanos said that the franchise financially "'looks fine' despite the Canes not reaching the playoffs the past four years." Hurricanes GM Jim Rutherford said that the club’s season-ticket totals "dropped by about 1,000 from last year, citing increased ticket prices as the chief cause of the decline." He added that he was "pleased with corporate sales and said suite sales were the same as last year." Karmanos said that he "planned to be in Raleigh more often, but a family move from the Detroit area to North Carolina might be too disruptive at this time" (Raleigh NEWS & OBSERVER, 10/3).
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Franchises, NHL, Carolina Hurricanes

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