Jeff Gravley

Canes begin camp under ownership uncertainty

Posted September 14
Updated September 15

When the Carolina Hurricanes begin training camp on Friday, none of the players or coaches will give a minute of thought to the potential change in ownership. Former Texas Rangers CEO Chuck Greenberg has put together an investment group and continues to work toward assuming ownership from Peter Karmanos, Jr.

Greenberg spent the last 11 days in the Triangle, and it was not his first trip to the area.

He has met several times with potential local investors, and I have been told that those groups are committed to investing in the Hurricanes. It's not just to "help out the Hurricanes and the community." It would be a very beneficial move financially for the local investors.

People with a lot of money love to make more money.

There are other groups outside of North Carolina that Greenberg has recruited to become investors. Two weeks ago there were rumblings that a major investor had pulled out of the deal. If so, it has not derailed the effort of the Greenberg group to purchase the Hurricanes.

August can be a slow month for these major sports transactions, but since Labor Day, the pace has picked up. Greenberg has been in conversations with the NHL, Peter Karmanos, Jr. and Hurricanes president Don Waddell.

One key element is Karmanos has not given the Greenberg a deadline—yet.

At some point, there will either be an agreement and transaction, or it will be time to cut bait and move on.

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