Bettman: Dundon has signed purchase agreement for Hurricanes

Carolina Hurricanes owner Peter Karmanos Jr., right, is in the process of selling a majority stake in the team to billionaire Tom Dundon. (Karl B DeBlaker/AP)

NHL commissioner Gary Bettman says Dallas billionaire Tom Dundon has signed a purchase agreement for the Carolina Hurricanes.

Both Dundon and current Hurricanes owner Peter Karmanos Jr. made a presentation to the executive committee of the NHL’s board of governors Thursday morning.

Karmanos would maintain a minority stake under the proposal.

Both Dundon and Karmanos said the plan is to keep the Hurricanes in Raleigh, N.C., despite Dundon’s ties to Texas and the fact the Houston market would be attractive to the NHL.

Karmanos has owned the team since 1994 when it was the Hartford Whalers and moved the franchise to North Carolina in 1997.

He said in August he wanted to sell the Hurricanes for about US$500 million.

With files from the Associated Press