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Hurricanes

Karmanos: Local investors understand Canes' value

Posted October 14, 2011

— Carolina Hurricanes owner Peter Karmanos Jr. said his search for local investment partners for his team has been a success so far because leaders in the Triangle understand the value of the team.

Since the death of his business partner, Tom Thewes, in 2008, Karmanos has been looking for ways to fill that role.

On Thursday, the team announced that Michael Kahn, the owner of the Charlotte Checkers of the American Hockey League, had made a $5 million investment and would join the Canes ownership group. 

Karmanos said his unique relationship with Kahn, whose Charlotte team is the minor-league affiliate of the Hurricanes, and Kahn's business connections in the Triangle made it easy for them to work more closely together. He called Kahn "a Raleigh guy and a good hockey guy." 

Karmanos did not identify any of the other local investors, but he said Friday that the team has secured $22 million in commitments. Those same people will probably kick in another $7.5 million.

He expects another group to add $2 million in the next six months and has "solid interest investments" of another $5 million over the next year, for a total of $36.5 million.

Karmanos said Friday that he is looking for about $10 million more.

He joked about the guest he had in his owners' box last week. "I'm trying to convince (singer) Kid Rock, but he's got strong Detroit ties," he said. 

The bottom line is that Karmanos expects to meet the team's financial needs with investments from within the local community.

"The Canes can stand on their own," he said, "and having a facility like the RBC Center is extremely attractive to investors."

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  • fzero Oct 14, 6:38 p.m.

    First!

    Take that detractors who think hockey wouldn't work in the South. and take that to those... View More

    — Posted by Willie_11

    *cough* Atlanta *cough*

  • SubwayScoundrel Oct 14, 3:20 p.m.

    Good deal. I just wonder if any of the local BIG BOYS have stepped up. The ones that hire people who are willing to move here for quality of life which includes having pro sports. They know who they are. Goodnight, Sloan, Gillings, Red Hat guys, Cree guys, all the pharma companies, Lonnie Poole/family, Goodman,--HEY PHARMA VENTURE CAP GUYS !!! Hope they are part of it or do they just have good seats to NCSU basketball games they never use??

    Go Canes !!!

  • jtgeraghty Oct 14, 2:11 p.m.

    We are avid fans, especially my wife as shown here.

  • james18 Oct 14, 1:22 p.m.

    I love going to a Hurricanes game @ the RBC Center..good food, friendly staff, clean facility. They have done alot for the community and military as well..Keep on rockin Hurricanes, your organization is TOP NOTCH!!!!!

  • Willie_11 Oct 14, 12:31 p.m.

    First!

    Take that detractors who think hockey wouldn't work in the South. and take that to those who still do.

    Go Canes!

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Scoreboard
Local
Final
CAR 4
TOR 1
Final
DUKE 66
UCONN 56
7:00pm Tonight
PHI
CHA
Final
CHI 103
NYK 97
Final
HOU 90
NOP 99
Final
SAC 107
MIL 108
Final
GSW 114
OKC 109
7:00pm Tonight
PHI
CHA
7:00pm Tonight
ORL
UTA
7:30pm Tonight
CLE
BRK
7:30pm Tonight
BOS
MIN
7:30pm Tonight
DET
TOR
7:30pm Tonight
MIA
WAS
8:00pm Tonight
MEM
CHI
8:00pm Tonight
SAN
POR
9:00pm Tonight
DEN
LAC
10:30pm Tonight
LAL
OKC
Final
RICE 72
STTHOMASTX 61
 
Final
UVA 70
CLST 54
Final
LIU 69
FIU 58
 
Final
STET 67
GSOUT 76
 
Final
QUIN 80
LEH 65
 
Final
SFLA 69
SHU 89
Final
RICH 65
SALA 54
Final
CAN 60
USB 59
 
Final
DEL 62
TEMPL 82
Final
WCU 56
WRST 69
 
Final
VERM 56
YALE 57
 
Final
SDKST 75
IDST 72
 
Final
RIDE 62
MRGST 48
 
Final
LATU 79
NICST 54
 
Final
CHAR 75
APP 65
Final
MISS 71
CCAR 68
 
Final
DUKE 66
UCONN 56
Final
BRAD 80
EUREK 38
 
Final
PEAY 76
OAKC 52
 
Final
JST 66
SMISS 46
 
Final
SD 55
MNTST 53
 
Final
UAB 70
LSU 79
Final
EVAN 81
OHIO 69
 
Final
CSFU 72
CSDH 50
 
Final
ORST 90
DEP 59
Final
PAC 69
NEV 65
Final
USF 77
PORST 40
 
Final
IDAHO 86
WALLA 39
 
Final
UTST 57
CALST 56
 
1:30pm Today
YOUNG
WILB
 
2:00pm Today
TULA
JST
 
6:00pm Tonight
RAD
SIENA
 
7:00pm Tonight
MERC
COOK
 
7:00pm Tonight
BUCK
CASEWEST
 
7:00pm Tonight
LIB
CPNC
 
7:00pm Tonight
SCAR
CLEM
7:00pm Tonight
CMICH
CONC
 
7:00pm Tonight
MIAMI
EKENT
7:00pm Tonight
GWEBB
HIWASSEE
 
7:00pm Tonight
ODU
MDES
 
7:00pm Tonight
BUF
NIAG
 
7:00pm Tonight
KSU
NCAT
 
7:00pm Tonight
FAM
UNF
 
7:00pm Tonight
NORST
NARZ
 
7:00pm Tonight
DART
NILL
 
7:00pm Tonight
MORE
NKENTUCKY
 
7:00pm Tonight
UCSB
SDCHR
 
7:00pm Tonight
STJ
GAELS
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ALA
STILL
 
7:00pm Tonight
HAMP
TENST
 
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TENN
TENT
7:00pm Tonight
WMARY
WSHMD
 
7:30pm Tonight
FLGC
FUR
 
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CALST
SDKST
 
8:00pm Tonight
MTST
CHAT
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NDAK
DICKINSON
 
8:00pm Tonight
LAMON
LSUALEX
 
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PRIN
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LAM
MLGN
 
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MINN
SEAT
 
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8:05pm Tonight
SILL
NO
 
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TTU
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DEN
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CREI
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10:00pm Tonight
CAL
EWASH
10:05pm Tonight
UTST
IDST
 
11:00pm Tonight
UTEP
ARZ
11:59pm Tonight
CHAM
HAW
 
Final
PIT 1
COL 0
Final
PHI 1
FLA 2
Final
CAR 4
TOR 1
Final
CLB 4
WAS 5
Final
MON 1
ANA 2
Final
SJS 4
EDM 3
Final
LOS 6
STL 4
7:00pm Tonight
NJD
TAM
 
7:30pm Tonight
OTT
ANA
 
7:30pm Tonight
DET
NYI
 
8:00pm Tonight
WIN
BOS
 
9:00pm Tonight
CAL
DAL
 
Final
JAC 21
TEN 13