Karmanos Seeking $500M in Sale of NHL's Hurricanes

Carolina Hurricanes owner Peter Karmanos Jr. says he wants to sell his team for about $500 million.

RALEIGH, N.C. (AP) Carolina Hurricanes owner Peter Karmanos Jr. says he wants to sell his team for about $500 million.

Karmanos told The News & Observer of Raleigh on Tuesday that he and an ownership group led by former Texas Rangers CEO Chuck Greenberg have agreed to a term sheet but do not have a purchase agreement.

Karmanos spoke publicly for the first time since club officials acknowledged last month that an offer was made for the team without identifying the buyer or the sale price.

Karmanos says he is giving Greenberg some time to assemble his ownership team. But Karmanos adds that ''if we get a few more weeks down the road and he can't raise enough money, I'm going to tell him sayonara.''

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