Report: Deal in place for sale of Hurricanes

Late last week news broke the the Carolina Hurricanes were reportedly being sold to former Texas Rangers parter Chuck Greenberg for a cool $500 million. Then, just as quick as the news broke, the news was refuted. Nearly a week later however and it appears that the initial report is in fact correct.

According to a report from WRAL Sports reporter Jeff Gravley, a “business deal” is indeed in place between current Hurricanes owner Peter Karma’s and Greenberg. Up until this point the only indication of a sale was a signed, non-binding letter of intent from Greenberg. Once both sides have had their lawyers review the framework of the deal, they’ll agree to a binding contract which will initiate the sale and transfer of the franchise to Greenberg.

So, what does this all mean for the Hurricanes and their future in Raleigh? It’s not clear just yet what the new owner’s plans are, but it’s important to note that any potential move for the franchise would have to be approved by the NHL’s board of governors. It’s not as if Greenberg can just scoop the team up and move them to a destination of his choice. Still, with how quickly negotiations are progressing in this sale, it will be interesting to see the things shake down when everything is said and done. Stay tuned. This has all the same “hush-hush”, “quick-quick” feel as the 2011 sale of the Atlanta Thrasher to now Winnipeg Jets owner Mark Chipman.