Hurricanes owner doubts interested buyer can afford franchise

Peter Karmanos is ready to sell.

The Carolina Hurricanes owner is prepared to make a deal for his hockey team, but there is just one problem: he doubts interested buyer Chuck Greenberg has the wherewithal to complete the sale.

Greenberg, a former co-owner of the Texas Rangers, approached Karmanos about purchasing the club after Karmanos made it known he'd be willing to sell the team if the price is right and on the condition it remains in Raleigh.

The asking price is believed to be in the neighborhood of $500 million, and recent negotiations between the two sides appear to have hit a snag.

"The sale of the team is just sitting there, waiting for Chuck to say, 'Geez, I can't raise the money,'" Karmanos told Chip Alexander of The News & Observer. "We have a commitment to Chuck, and we're going to see it through.

"And quite frankly I wish he would pick up the phone and say, 'Geez, you know what, I can't get it done.' Because it looks like he can't get it done. ... I'm telling you, he can't raise the money."

Karmanos left open the possibility of selling the franchise to another buyer if Greenberg can't close the deal.

"I have umpteen million people who have figured out Raleigh is a pretty good area, and it's a pretty good team and pretty good market," Karmanos said. "So if Chuck can't deliver and I still want to sell the team, the price keeps going up."

Karmanos bought the franchise in 1994 - then known as the Hartford Whalers - before relocating it to Raleigh three years later. He witnessed the Hurricanes win the Stanley Cup in 2006.

This season, Carolina has put together a 4-4-1 record, but only one win has come on home ice. In four games at PNC Arena, the Hurricanes have averaged just 11,784 in attendance - dead last in the NHL, according to ESPN.