Majority owner completes purchase of remaining franchise shares
RALEIGH, NC – Don Waddell, President and General Manager of the National Hockey League’s Carolina Hurricanes, today announced that Tom Dundon has completed the purchase of all remaining minority shares of the team. The transaction was unanimously approved by the NHL’s Board of Governors and now Dundon owns 100 percent of franchise.
“We are fortunate to have a passionate fan base that supports what we believe is a team that can compete every year for the Stanley Cup.” said Tom Dundon. “That is the only option.”
Dundon, 49, has been the chief executive officer, owner and governor of the Carolina Hurricanes since acquiring a majority stake in the franchise on Jan. 12, 2018. The Hurricanes have qualified for the Stanley Cup Playoffs in each of Dundon’s three full seasons as owner, marking the first time the team has participated in the postseason in three consecutive years since arriving in North Carolina.
Today’s transactions mark the first time that Peter Karmanos Jr. has not owned at least a minority share of the Hurricanes franchise since he first acquired the Hartford Whalers on June 28, 1994. Karmanos, a 2015 Hockey Hall of Fame inductee, relocated the Whalers to North Carolina in 1997 and was principal owner and chief executive officer when the team captured the Stanley Cup in 2006.
“Pete has had a tremendous impact on the sport of hockey in the United States since the 1970s,” said Dundon. “His vision laid the groundwork for the success we now enjoy in Raleigh, and his legacy will always remain a part of this organization.
“We are also grateful for the efforts of the Hurricanes Holdings minority investors who provided important support to the franchise over the years.”