From Staff Reports
RALEIGH, N.C. – Tom Dundon is the new majority owner of the Carolina Hurricanes, the team announced on Thursday.
To officially introduce and recognize Dundon accordingly, National Hockey League (NHL) Commissioner Gary Bettman will be on hand to do so at a press conference that will be held at PNC Arena at Noon on Friday.
Dundon, who formally closed his purchase transaction with Peter Karmanos, Jr. on Thursday, via league approval, will take over operation of the organization with Karmanos retaining a minority ownership interest in the Club.
The process comes to closure a little over a month since Dundon had signed an agreement to purchase a majority stake in team as was announced on Dec. 7, 2017.
“I am thrilled to continue to build upon what Peter Karmanos started in Raleigh,” Dundon said in a statement at that time.
“The Hurricanes are a team on the rise, and I believe we have an opportunity to take the franchise to the next level. I’m ready to get to work.”
Dundon who resides in Dallas, Texas with his wife Veruschka and their five children, is the chairman and managing partner of Dundon Capital Partners, a Dallas-based private investment firm.
He has been involved in investment activities that have spanned the entertainment, healthcare, real estate and hospitality, technology, automotive and financial services sectors.
Karmanos originally purchased the Hartford Whalers franchise in 1994 before he moved it to Raleigh and renamed it as the Carolina Hurricanes in 1997.
Since relocation, under Karmanos’ ownership, the team has captured three division titles, two conference titles and the 2006 Stanley Cup Championship.
In 2015, Karmanos was inducted into the Hockey Hall of Fame in the category of Builder, in recognition of his more than four-decades of achievements and contributions to the sport.
In seeking a buyer over the past few years, Karmanos was adamant in finding an individual who would work to keep the team in Raleigh while he could transition out of any ownership of the club in coming years after a sale was completed.
“Tom has had tremendous success in business, and I fully expect that to continue as he takes control of the Hurricanes,” Karmanos said.
“I look forward to working with him, and bringing another Stanley Cup to North Carolina.”
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