ShareThis Page
NHL

Report: Group led by Upper St. Clair's Chuck Greenberg close to buying Carolina Hurricanes

| Thursday, July 13, 2017, 6:40 p.m.

Upper St. Clair graduate Chuck Greenberg is the head of an investment group that is close to buying the NHL's Carolina Hurricanes, according to multiple reports Thursday.

According to Bloomberg News, Greenberg's group will pay $500 million for the team and plans to keep it in Raleigh.

The Hurricanes issued a statement confirming only that an offer had been made.

“Since an offer has been made to purchase the team, (owner Peter) Karmanos intends to evaluate that offer and also will continue to evaluate his other options, including retaining his ownership of the team,” it said.

Greenberg, 56, is a sports attorney who was involved with the deals that allowed Mario Lemieux and Ron Burkle to buy the Penguins out of bankruptcy in 1999 and the construction of PPG Paints Arena in 2007. He is part owner of minor league baseball teams in State College, Myrtle Beach and Frisco, Texas, and is a former owner of the Altoona Curve and Texas Rangers.

Karmanos bought the franchise in 1994, moved it to Raleigh in 1997 and has been publicly discussing selling a stake since at least 2011.

The Hurricanes were valued at $230 million by Forbes magazine in 2016. The reported $500 million price Greenberg's group will pay would match exactly the expansion fee Bill Foley paid to get the Vegas Golden Knights into the NHL.

TribLIVE commenting policy

You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.

We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.

While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.

We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers

We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.

We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.

We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.

We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.