In what has already been an uncharacteristically busy summer for the Carolina Hurricanes, the move that has perhaps been the longest-awaited is reportedly in the works, as the team has signed a letter of intent to sell. Chuck Greenberg, the former CEO and managing partner of the Texas Rangers, will buy the Hurricanes for $500 million, according to Scott Soshnick, a Bloomberg sports business reporter.
Owner Peter Karmanos Jr. has said that he is open to selling the team (after years of an unofficial but well-founded understanding that the team was on the market), but was looking for a buyer to keep the team in Raleigh, among other stipulations.