Breaking: NHL owner ready to sell and relocate after major lawsuit.

Massive reports coming out of the NHL.

Share on Facebook

We have some truly shocking reports out of French Canada.

According to a breaking news report from Guillaume LeFrancois of La Presse, NHL owner Peter Karmanos "is now ready to sell and relocate the Carolina Hurricanes." There have been rumors to this effect for quite some time now, but to have it reported so definitively still comes as a big shock.

LeFrancois reports that Karmanos is coming off the heels of a major lawsuit, one in the amount of $100 million, and that lawsuit has just recently been settled outside of court. It's believed that the litigation was a barrier to the possible relocation previously and as a result of it coming to an end it now frees up Karmanos to sell his team.

Karmanos reportedly wanted to retain ownership of his team but when you consider that the lawsuit was filled by his three sons for money's borrweed by Karmanos against their trust, the money he will earn from the sale could be a part of that settlement.  

One more point worth mentioning here, there were rumors over the summer that Karmanos was seriously in debt with the NHL itself, and that may also may be playing a role in his seemingly sudden willingness to sell his team to a new owner.