NHL Commissioner Gary Bettman yesterday said that the Hurricanes are on "sound financial ground with owner Peter Karmanos Jr. and called relocation rumors unfounded," according to Chip Alexander of the Raleigh NEWS & OBSERVER. Bettman said he hopes to "take down the temperature” on speculation surrounding the Hurricanes. That speculation "has intensified in recent months as the NHL nears a decision on expansion, and questions recently arose about the franchise’s financial standing" after a $105M lawsuit involving Karmanos and his three adult sons. Bettman said, "I don’t see the Hurricanes relocating, period. I think the Triangle is a terrific market. A good fan base has developed around the Hurricanes and I see the opportunity for continued growth for this franchise in the future. Peter Karmanos is a terrific owner. This franchise has never missed a beat and he has been there to support it, financially and emotionally. All this speculation is unfair to the franchise and its fans. It’s completely unfounded.” Bettman called the suit a "family 'squabble' gone public, and said the trust has not been used as financial collateral for the team." He added the trust "has nothing to do with" the NHL. Asked if there were any concerns about Karmanos’ financial well-being, Bettman said that the NHL "doesn’t check the financial wherewithal of the owners on a weekly or monthly basis." Alexander notes Bettman "would not say if the Hurricanes had received advances on TV revenue and revenue-sharing payment, but he said it was not unusual for teams to do that to help with cash flow" (Raleigh NEWS & OBSERVER, 6/9).
