Peter Karmanos Jr. said Tuesday he is in the process of selling the Carolina Hurricanes, a franchise he has owned since 1994, and that the asking price is about $500 million – for now.
Karmanos said a term sheet is in place with a potential ownership group headed by Chuck Greenberg, a sports attorney and former CEO of the Texas Rangers. But he cautioned, “There is no purchase agreement.”
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Until Tuesday, Karmanos had not spoken publicly or confirmed that Greenberg’s group was seeking to buy the Hurricanes for about $500 million.