Tom Dundon Closes Purchase of Majority Ownership of Carolina Hurricanes, Press Conference Noon Friday

Update 4:50 p.m.: The purchase is complete and Tom Dundon is the new majority owner of the Carolina Hurricanes. Dundon will be introduced to the media at a press conference tomorrow at noon at PNC Arena.

Also in attendance at the press conference will be former majority owner and now minority partner Peter Karmanos, NHL commissioner Gary Bettman, Hurricanes president Don Waddell and general manager Ron Francis.

In an update to previously reported information, the News and Observer now reports that Dundon will acquire a 61% stake in the club, up from the earlier reports of him purchasing a 51% share of the team.

Canes Country will have full coverage and reaction from tomorrow’s announcement. Below is our story from this morning, and following that is the release from the team.

A new day has arrived for the Carolina Hurricanes.

Citing multiple sources involved in the transaction, the News and Observer is reporting today that the sale of the Hurricanes from Peter Karmanos to Dallas businessman Thomas Dundon will close today. A press conference with Dundon and NHL commissioner Gary Bettman has been scheduled for tomorrow in Raleigh.

The NHL Board of Governors has approved the transfer of the franchise, the last remaining hurdle to Dundon becoming majority owner. He will own just over half of the franchise, which the N&O reports is valued at $505 million.

The paper also reports that Dundon plans to keep the Canes’ hockey operations staff, including general manager Ron Francis and head coach Bill Peters, in place after he assumes majority ownership.

This is a developing story and will be updated throughout the day.

NEW OWNER TOM DUNDON TO BE INTRODUCED FRIDAY

News conference to take place at PNC Arena at noon

National Hockey League Commissioner Gary Bettman will introduce new Carolina Hurricanes majority owner Tom Dundon at a news conference at PNC Arena on Friday. The league announced that Dundon today became majority owner of the Hurricanes through the formal closing of his purchase transaction with Peter Karmanos, with Karmanos retaining a minority ownership interest in the Club.

Hurricanes television partner FOX Sports Carolinas will carry the news conference live, as well as streaming it via FOX Sports Go.