Carolina Hurricanes owner Tom Dundon is selling a minority stake in the NHL franchise as he pursues other interests in the sports world, according to reports.
Dundon has sold a 12.5% stake in the Hurricanes. The franchise is valued at $2.66 billion, according to Sportico. The deal includes three new minority partners who were not identified.
Whether Dundon is using the sale of the Canes stake to support the NBA deal is unknown. A Hurricanes representative declined to comment Thursday.
Dundon, a Texas billionaire who was an early investor in Topgolf, took full ownership of the Hurricanes in 2021. Since then, the team in Raleigh has become one of the premier franchises in the NHL and is once again in the hunt for the Stanley Cup this season. The organization’s estimated valuation has soared in recent years — it was below $1 billion in 2023.