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Thread: Letter of Intent to Purchase Canes

  1. #1
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    Default Letter of Intent to Purchase Canes

    Jeff Gravley of WRAL reports that the Canes have signed a letter of intent to sell to former Texas Rangers CEO Chuck Greenberg. The agreement keeps the team in Raleigh.

    Edit: TSN cites a report from Scott Soshnick from Bloomberg.

    http://www.tsn.ca/report-hurricanes-...-500m-1.803998

  2. #2
    All-Star Elsker's Avatar
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    Default Re: Karmanos Agrees to Sale of Hurricanes

    And, finally, the single greatest franchise need may be fulfilled.
    Here we are now...entertain us.

  3. #3
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    Default Re: Karmanos Agrees to Sale of Hurricanes

    Wow. Pinch me. Wow. Holy smokes... does this guy have $$$$$?

    Sent from my SAMSUNG-SM-G935A using Tapatalk

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    Super-Star HeyKurtz's Avatar
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    Default Re: Karmanos Agrees to Sale of Hurricanes

    This is (potentially) the greatest news I've heard in a looooooooong time!

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    All-Star Elsker's Avatar
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    Default Re: Karmanos Agrees to Sale of Hurricanes

    From a quick look around, including a board focused on the business side of hockey, this guy seems to be legit and is a multiple sports club investor with no history of relocation other than one minor team.

    Price too high for a speculative flip. League will mandate a certain number of "no relocation" years anyway.

    I think this is the happy ending we were seeking...and it certainly is a happy one for Peter Karmanos. Twice the Forbes estimate of value.
    Last edited by Elsker; 07-13-2017 at 04:12 PM.
    Here we are now...entertain us.

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    Hall of Famer JamesNorthern's Avatar
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    Default Re: Karmanos Agrees to Sale of Hurricanes

    Wow. Put me down as cheerily blind sided? Just wow. Out of nowhere. Our prayers have been answered.

    Can I get excited and way ahead of myself here????

    Assuming the new majority owner has cash to spend, how quickly could we see that translate to us being able to bring in some offensive help, if some or one good candicate becomes available?

    Can I suggest that even with a tight budget RF managed to improve this teams future by positioning it as one of the more improved teams with a good bright young future. That's gotta be really attractive to any potential suitors.

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    Default Re: Karmanos Agrees to Sale of Hurricanes

    No wonder Slavin got an extension.

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    Default Re: Karmanos Agrees to Sale of Hurricanes

    I truly hope this all pans out. I had pretty much resigned myself to this team relocating sooner than later.

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    Default Re: Karmanos Agrees to Sale of Hurricanes

    If Greedy Pete blows thiscanesstatement.jpg ....ugh....and i'm now very worried, it may be posturing but I don't trust PK

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    Default Re: Karmanos Agrees to Sale of Hurricanes

    Just saw a tweet where PK is still evaluating the offer and considering it as well as the option to keep the team.

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    Default Re: Karmanos Agrees to Sale of Hurricanes

    Quote Originally Posted by perfectstormhits View Post
    Just saw a tweet where PK is still evaluating the offer and considering it as well as the option to keep the team.
    Since Karmanos hasn't agreed to sell yet, I changed the thread title. The Letter of Intent came from Greenberg and has not been signed.

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    Default Re: Karmanos Agrees to Sale of Hurricanes

    Quote Originally Posted by Boardwork View Post
    If Greedy Pete blows thiscanesstatement.jpg ....ugh....and i'm now very worried, it may be posturing but I don't trust PK
    If Pete turns this down he is going to have 18 minority investors hunting him down!! Seems like a fair price considering what Vegas just paid. Much better roster to start with than what Vegas got for similar money.

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    Canes Moderator brassbonanza's Avatar
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    Default Re: Letter of Intent to Purchase Canes

    our long national nightmare is over?

  14. #14
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    Default Re: Letter of Intent to Purchase Canes

    Greenberg would be quite a catch as an owner. He has hockey experience: he put together the deal for Lemieux & Burkle to take over the Pens and represented the Pens in getting the new arena. He is a Pittsburgh native.

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    Hall of Famer cmaleski2's Avatar
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    Default Re: Letter of Intent to Purchase Canes

    If this goes through I wouldn't expect the new owner to immediately increase our spending. Even if this new guy has money its no guarantee he will be willing to go deep into the red, even if its just for a bit.

    This would be great news, don't get me wrong, but I don't think this immediately would result in a $65-70 million payroll, next season, for example.

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    Hall of Famer TheBigKahuna's Avatar
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    Default Re: Letter of Intent to Purchase Canes

    A little disappointed to hear that this is nothing more than talks yet.

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    Default Re: Letter of Intent to Purchase Canes

    Quote Originally Posted by TheBigKahuna View Post
    A little disappointed to hear that this is nothing more than talks yet.
    At the numbers being thrown around for purchase price and the fact PK has no money of late, this almost seems like a no brainer that it will get done!!! Just awesome news.

  18. #18
    1st Liner Pucking Lamplighter's Avatar
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    Default Re: Letter of Intent to Purchase Canes

    I'm cautiously optimistic about this deal actually happening in some form. I also agree that PK's statement is likely either posturing or difficulty letting go. New blood at the top could rejuvenate the entire organization, especially since the GM and coaching appear to be firing on all cylinders as designed...provided the boss doesn't mess with the formula. Imagine if ownership actually had a tall stack of cash and the attitude to play with it at the same time management actually understood how to play their hand correctly. Wow!

    Jim
    There's a goat in the garden!

  19. #19
    All-Star ThinIce's Avatar
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    Default Re: Letter of Intent to Purchase Canes

    My first thought was: Great! My second thought was: Really Great! But do we know the details of the LOI? Is there any restrictions on the number of years the franchise would be guaranteed to stay in Raleigh? I'm nervously optimistic that Greenburg would keep everything here, but who knows exactly what these guys have in their heads for the long term?

  20. #20
    Rookie HockeyPat's Avatar
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    Default Re: Letter of Intent to Purchase Canes

    I don't think you guys have thought this through.

    Con #1. Playoff tickets are expensive. If we make the playoffs each year and make deep runs, we are all going to go broke paying for playoff tickets.

    Con #2 What will we bitch about? Politics? Abortion? Gun Control? We need Pete as our symbol of all that is holding us back in this life. Otherwise we are going to beat our dogs. No one should ever beat a dog!

    Con #3. Expectations. If we get top players, we will have high expectations, we will have to exert effort, and as the Great Prophet Homer Simpson once said "Trying is the first step to failure". Think about that.

    Con #3.14 Team Pride. Once we start winning, we will have to buy tons of Hurricane swag. T-shirts, jackets, game worn sweaters. Those things are expensive, and smelly.

    Con #4 We will have to become obnoxious jerks. See: Yankees, Red Sox, Cubs, Hey maybe this is just a baseball thing. Whoops forgot about Patriot fans. We will definitely have to go all "cable-news" on everyone else.

    Con #5. I'm so worried about all the winning that's ahead of us I can't think of any more Cons.

    Oh Yeah! Con Air. That was a good one.
    6accdae13eff7i3l9n4o4qrr4s8t12vx

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