The sale of the Carolina Hurricanes from Peter Karmanos to Thomas Dundon is scheduled to close this morning, according to several sources with knowledge of the negotiations. A press conference with NHL commissioner Gary Bettman is scheduled for Friday in Raleigh.
The NHL's Board of Governors has approved the transfer pending closing, which will see Dundon purchase more than 51 percent of the team from Karmanos with an option to purchase the remainder in three years, valuing the franchise at about $505 million.
Dundon, 47, made his fortune in the subprime auto lending industry. He and his five children live in Dallas.