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16 minutes ago, legend-1 said:

I hate to say I'm cautiously optimistic given everyone's amped up emotions but I really wanna know how long the deal keeps the Canes in NC.

 

 

 

It would be nice if the sale came with a 20 years stipulation but I doubt that is happening. My hope is he has been called a fan first type by Mark Cuban and with the news he is keeping existing and seeking new local investors that he or his group is committed to making it work.  He looks like he is also a marketing type and that can't hurt.

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16 minutes ago, legend-1 said:

I hate to say I'm cautiously optimistic given everyone's amped up emotions but I really wanna know how long the deal keeps the Canes in NC.

 

 

 

It would be nice if the sale came with a 20 years stipulation but I doubt that is happening. My hope is he has been called a fan first type by Mark Cuban and with the news he is keeping existing and seeking new local investors that he or his group is committed to making it work.  He looks like he is also a marketing type and that can't hurt.

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My concern (with no current basis of fact or innuendo) is a purchase, hold 2-3 years and upsale to Quebec for a $100mill profit.

 

Not to be a downer, but just sayin...

 

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My understanding is that any relocation needs to be approved by the NHL, which has said Canes are staying put.  And given the commitment it has shown to keeping teams in markets like Az and Fla, I'm not too concerned at this point, especially with the Canes presumably on the brink of relevance again.

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20 minutes ago, one-timer said:

My concern (with no current basis of fact or innuendo) is a purchase, hold 2-3 years and upsale to Quebec for a $100mill profit.

 

Not to be a downer, but just sayin...

 

 

8 minutes ago, LakeLivin said:

My understanding is that any relocation needs to be approved by the NHL, which has said Canes are staying put.  And given the commitment it has shown to keeping teams in markets like Az and Fla, I'm not too concerned at this point, especially with the Canes presumably on the brink of relevance again.

 

I think NHL owners as a group make a lot more off of new franchise fees (see Vegas) than off of relocation of existing teams, but I have the same wonder/concern as one-timer.  If Bettman announces that a new franchise is being awarded to Quebec in the next month or two, I'd feel better about the Canes new owner's long-term intentions.

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I dunno, to move the team there is a hefty relocation fee then the lease would have to be broken.  That, and the guy reportedly is paying 500 million for the team.  He's also looking for a local investment group.  I'm not worried if this deal is finalized.

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Hold the phone...

 

Quote

 

1 hour ago

Statement from Hurricanes: "Since an offer has been made to purchase the team, Mr. Karmanos intends to evaluate that offer ...

Hurricanes: "... and also will continue to evaluate his other options, including retaining his ownership of the team."

Hurricanes president Don Waddell confirms offer made to buy team, if accepted, would result in team remaining in Raleigh.

 

 

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I don't think hold the phone is in in play here.  Karmonos can't negotiate with another buyer, so he either reaches an agreement and sells the team to the Greenberg Group, or he doesn't and has to start over again.  And it's 500 million, reportedly.  He bought the franchis for around 50 million.   

 

I found this earlier today on the 2006 sale of the Penguins, but it's a good read if only to get an idea of timelines, what letters of intent actually mean, and the approval process.

 

https://www.nhl.com/penguins/news/group-led-by-sam-fingold-signs-letter-of-intent-to-buy-penguins/c-494743

Edited by coastal_caniac

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3 hours ago, wxray1 said:

Is this oil money?  I haven't read up on the guy.  The future of oil is iffy.  The future of hockey is awesome!  I say that a bit as a fan, but also as one who sees the NFL being troubled much more by the concussion and short timer career issue.

 

EDIT: OK, read wikipedia.  Texas Rangers and his ownership does not equal oil.  Not sure where the money is from.  This story will unfold.

 

EDIT2: seems a lot of the money actually comes from other sports team's appreciating upon subsequent sales.  He knows the sports game.  Hopefully, this isn't a flip.

 

Don't worry where it came from, evidently he has it.

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12 minutes ago, OBXer said:

 

Maybe not, probable not but here is the statement. Same as Chips tweets

 

Cory Lavalette @corylav 1h1 hour ago

Statement from @NHLCanes on ownership situation:

 

DEpOQggUAAA0CCQ.jpg

 

 

Oh, I get it, and I could certainly be getting ahead of things, but IMO this sale is legit.  What else can he say other than we have an intent to sell and a price.  We also know that negotiations have been ongoing for months, evidently.  And the letter of intent closes the door on any other investment group.  There just seem to be too many things adding up to a sale.

 

Typical Karmanos.

Edited by coastal_caniac

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10 minutes ago, coastal_caniac said:

Oh, I get it, and I could certainly be getting ahead of things, but IMO this sale is legit.  What else can he say other than we have an intent to sell and a price.  We also know that negotiations have been ongoing for months, evidently.  And the letter of intent closes the door on any other investment group.  There just seem to be too many things adding up to a sale. 

 

I just finished reading the piece you linked to on the Pens sale and it does give me a better understanding on the process. We do know that PK has a legitimate offer and a letter of intent. When the news broke the way it did I was thinking all that was missing was a signature on the dotted line but it appears there are still a few i's to dot and t's to cross before we get to that point. I agree with you it just appears too many things are adding up to a sale. Of course that last line about including retaining ownership is something I guess only PK can come to terms with.

 

I hope Greenberg  or his group issue some sort of statement like the group intending to buy the Pens did.

 

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Please make this final so we can assemble around PNC with torches and pitchforks to escort Waddell off the premises?

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4 minutes ago, OBXer said:

I hope Greenberg  or his group issue some sort of statement like the group intending to buy the Pens did.

I think they will soon. Wouldn't surprise me if PK leaked it to control the narrative, i.e., the team stays here. Then he issues the "official" statement re "reviewing the offer."

 

That said, I do wonder if he still wants some control, though, and if that's the case, this leak could be just really good/shoe-leather reportage.  

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5 minutes ago, top-shelf-1 said:

Wouldn't surprise me if PK leaked it to control the narrative, i.e., the team stays here. Then he issues the "official" statement re "reviewing the offer."

 

Hmm, interesting thought. 

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8 minutes ago, top-shelf-1 said:

That said, I do wonder if he still wants some control

 

When he first put the team up for sale he did want to retail some ownership. I thought that was off the table.  I guess we will find out as this unfolds. The most important factor for me is that the team stays in Raleigh no matter how it plays out.

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Well, if this team moved from Raleigh, would we all still be here on the boards?  Or would you all find new teams?

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It's pretty ironic this is happening for the 20th anniversary of the franchise.  It's a marketing playground for a new ownership group.  Too bad Karmanos never seemed to grasp the importance of those opportunities to the fullest extent after the team won the Cup.

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3 minutes ago, coastal_caniac said:

It's pretty ironic this is happening for the 20th anniversary of the franchise.  It's a marketing playground for a new ownership group.  Too bad Karmanos never seemed to grasp the importance of those opportunities to the fullest extent after the team won the Cup.

Well when you give your former GM carte blanche to ruin the franchise and drive the fans away...what do you expect?  Luckily, Franchise has really worked hard at righting the ship.

Edited by AWACSooner

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23 minutes ago, AWACSooner said:

Well, if this team moved from Raleigh, would we all still be here on the boards?  Or would you all find new teams?

I become more bitter every year and dislike the NHL more and more. I bet a few Whalers & Nordique fans are that way today. 

I might follow/ attend checkers games if they still exist. Wearing my Canes jersey in a passive aggressive protest. 

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