Dundon's Purchase Of Hurricanes Expected To Be Completed Today
The sale of the Hurricanes to Topgolf Chair Tom Dundon is "expected to be finalized" today, with Dundon and current team Owner Peter Karmanos presenting at the league BOG meetings in Florida. Karmanos is "expected to retain 48% of the team," becoming a minority owner. The sale reportedly will include an "option for Dundon to purchase" Karmanos' remaining stake in three years (TSN.ca, 12/7). For Dundon's purchase, the Hurricanes are being valued at just under $500M, but it "sounds like his buy-in isn't total cash," and it also "includes taking on some debt" (TWITTER.com, 12/7).