Entrepreneur Tom Dundon to purchase majority share of franchise
From Staff Reports
RALEIGH, N.C. – The Carolina Hurricanes, via Don Waddell, president of Gale Force Sports & Entertainment, announced on Thursday that Dallas entrepreneur and philanthropist Tom Dundon had signed an agreement to purchase a majority stake in the National Hockey League (NHL) franchise.
Pending league approval, Dundon will take control of all team operations.
“I am thrilled to continue to build upon what Peter Karmanos started in Raleigh,” Dundon said.
“The Hurricanes are a team on the raise, and I believe we have an opportunity to take the franchise to the next level. I’m ready to get to work.”
Dundon, the chairman and managing partner of Dundon Capital Partners, a Dallas-based private investment firm, has been involved with investment activities that have spanned the entertainment, healthcare, real estate and hospitality, technology, automotive and financial services sectors.
He is also the majority owner of Employer Direct Healthcare and serves as the co-chairman of Topgolf.
Peter Karmanos Jr., who originally purchased the franchise in 1994 and relocated the team to North Carolina in 1997, will maintain a minority equity stake in the team.
Since then, the Hurricanes have claimed three division titles, two conference titles and the 2006 Stanley Cup.
In 2015, Karmanos was inducted into the Hockey Hall of Fame in the Builder category, in recognition of his more than four-decades of achievements and contributions to the sport.
“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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