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Karmanos: Term sheet in place for Carolina Hurricanes’ sale to Greenberg

Yesterday afternoon, Hurricanes owner Peter Karmanos Jr. spoke with the News and Observer’s Chip Alexander about the process underway to sell the Carolina Hurricanes to former Texas Rangers partner Chuck Greenberg. In typical Karmanos fashion, there’s a lot to unpack, but digging a bit deeper underneath the bluster there are some signs of optimism.

First, the obvious: this is the first time that Karmanos himself has said, on the record, that an offer exists from Greenberg to buy the Hurricanes. So from that angle, this is a fairly major development. But Karmanos then goes further, telling Alexander that Greenberg has “a few more weeks” to meet the purchase price, which he estimated at between $450 and $500 million, confirming the original report from Bloomberg’s Scott Soshnick.