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Storm Advisory for July 14: Thoughts on the Hurricanes’ Potential Sale, plus NHL News, Rumors, Links and Daily Roundup

July 14th, 2017 at 8:12 AM
Aggregated By Sports Media 101

Jamie Kellner

But First, A Word From Our Sponsor

We don’t really have many links today because yesterday’s big story in the NHL was also the big story locally: Peter Karmanos has reportedly, at long last, found a buyer for the Carolina Hurricanes that will keep the team in Raleigh. I know it’s tempting to jump at the news, and it’s also tempting to offer a backlash take – “well, his statement says he’s evaluating whether to keep the team, so this is all going to come to nothing” – but there are more than a few reasons that this news should be taken as a positive development.

First, it’s always important to note where a story originates from. In this case, it was a writer for Bloomberg, Scott Soshnick, who is based in New York, not Toronto or some other Canadian market. Bloomberg has deep connections with investment banks in New York, one of which is presumably advising potential new owner Chuck Greenberg. In other words, this is being reported as a business story, not a hockey story. That’s a big check mark.

Second, the story was confirmed by WRAL’s Jeff Gravley within half an hour of the original report, with the added information that a letter of intent has been signed. Assuming that report is accurate – and there are many reasons to assume it is, more of which we’ll talk about in just a second – this isn’t a verbal agreement. This is Karmanos signing a piece of paper saying he intends to sell the team.

Now, could it fall apart? Of course it could. Maybe Karmanos decides to play hardball and insist on his long-rumored condition that he continue to operate the team, essentially playing in a sandbox with someone else’s toys. Maybe the financing falls through. There are a million different things involved with a transaction of this magnitude, any one of which could derail the whole thing.

But that’s why the boilerplate language in that statement yesterday exists. Karmanos has been in business long enough to know that he shouldn’t back himself into a corner. It’s a cover-…

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Tags: Copper&Blue, Go read his writeup and watch the presser with Vellucci and Ron Francis, Leon Draisaitl, Oilers, The Hockey News, WRALSportsFan

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