Dundon signs purchase agreement to buy Hurricanes

Dundon signs purchase agreement to buy Hurricanes
Posted at 7:04 PM, Dec 07, 2017
and last updated 2017-12-07 19:04:20-05

RALEIGH, N.C. (AP) -- Dallas billionaire Tom Dundon has signed a purchase agreement to buy the Carolina Hurricanes from longtime owner Peter Karmanos.

The team announced the agreement Thursday, and NHL Commissioner Gary Bettman said the team would not move.

The move marks the latest step toward the end of Karmanos' lengthy attempt to sell the team he moved from Hartford, Connecticut, to North Carolina two decades ago.

Dundon is the 46-year-old former CEO of Santander Consumer USA, a Dallas-based lending firm. He's also an investor in the Top Golf chain of golf and entertainment facilities and a key financier of a new golf course in Dallas.

In a statement released by the Hurricanes, Dundon called Carolina "a team on the rise" and said he was eager to "build upon what (Karmonos) started in Raleigh."