February 16, 2023; Raleigh, North Carolina, USA; Carolina Hurricanes GM Don Waddell and Hurricanes owner Tom Dundon look on as Cam Ward jerseys are retired prior to the game against the Montreal Canadiens at PNC Arena. Mandatory Credit: James Guillory-Imagn Image Carolina Hurricanes owner Tom Dundon has agreed to sell one-eighth of the NHL team to three new minority partners, according to a Sportico report Thursday.
By extrapolation, given that Dundon acquired 12.5% of the Hurricanes, the franchise would be worth $2.66 billion. To put this into perspective, Dundon purchased the team for $420 million in 2018.
At that point, Carolina hadn’t made the Stanley Cup Playoffs since 2009. Since Dundon’s arrival, the Hurricanes have been one of the most successful franchises in the league, both on and off the ice.
Carolina has reached the postseason in all seven seasons, including appearances in the Eastern Conference finals in 2019, 2023 and 2025, and this year’s squad is nine points atop the Metropolitan Division and has the best winning percentage (.689) in the Eastern Conference entering Thursday. This success has drawn sell-out crowds to Raleigh, North Carolina every night.
The identity of Dundon’s new partner has not been revealed. Additionally, Dundon’s motivations for the sale remain unclear.
In August, reports emerged that Dundon was leading a syndicate to purchase the NBA’s Portland Trail Blazers from Paul Allen’s estate for about $4.25 billion. Allen, who took over the Blazers in 1988, passed away in 2018, leaving behind instructions to sell his professional team (he also owns the NFL’s Seattle Seahawks) and donate the proceeds to charity.
Allen’s sister recently put the Seahawks up for sale, but the sale of the Trail Blazers is expected to close soon.
–Field level media
