A draft agreement for the sale of the Hurricanes to a group led by former MLB Rangers CEO Chuck Greenberg has been "given to lawyers for both sides for vetting," according to sources cited by Alexander & DeCock of the Raleigh NEWS & OBSERVER. There are still "hurdles for the deal to clear in the details -- Greenberg is also still finalizing the makeup of his investor group -- and potentially still a small window for another buyer to insert himself into the process." The process has "moved far enough along" that Greenberg met yesterday morning with Centennial Authority Chair Tom McCormick, whose organization operates PNC Arena. McCormick said, "There were no documents exchanged, no talk about a timetable (for a sale) or anything like that. It gave him a chance to learn more about the authority. Kind of him sizing us up and us sizing him up. He seemed like a nice guy. He has a lot of experience with pro sports." If lawyers sign off on the draft, a "binding sale agreement could be in place as soon as the end of August, with the deal potentially closing, with NHL and Centennial Authority approval, at some point around the start of the season in October" (Raleigh NEWS & OBSERVER, 8/10).
