Fansided

Carolina Hurricanes sale process on the bench for now

By Derek Helling

RALEIGH, NC - OCTOBER 27: Carolina Hurricanes Left Wing Brock McGinn (23) during the 2nd period of the Carolina Hurricanes game versus the St. Louis Blues on October 27, 2017, at PNC Arena in Raleigh, NC. (Photo by Jaylynn Nash/Icon Sportswire via Getty Images)
RALEIGH, NC - OCTOBER 27: Carolina Hurricanes Left Wing Brock McGinn (23) during the 2nd period of the Carolina Hurricanes game versus the St. Louis Blues on October 27, 2017, at PNC Arena in Raleigh, NC. (Photo by Jaylynn Nash/Icon Sportswire via Getty Images) /
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A snag in the potential sale of the Carolina Hurricanes has put the transaction back in the realm of mere possibility.

As uncertainty about the future of the Carolina Hurricanes remains effervescent, recent developments regarding a potential ownership change only exacerbate the drama.

According to Ken Campbell of The Hockey News, prospective buyer Chuck Greenberg has admitted that the “process is not where it two was weeks ago.” Further details were revealed by current majority owner Peter Karmanos Jr. in an interview by Chip Alexander of The Raleigh News and Observer about what the hold-up is.

Karmanos stated simply that Greenberg’s group was having difficulties coming up with the money necessary to buy at least his majority share of the team. Rumored at $500 million, Greenberg already had a lot of ice to cover, but this rumored delay raises even more questions.

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The first matter of speculation is what it means for the future of the franchise if this potential sale falls through due to an inability of Greenberg to raise the funds. The bottom line is that would mean that there are significant doubts about the feasibility of the franchise in the Raleigh market. Investors have likely shied away from committing to Greenberg’s group because the Hurricanes’ profits have been so meager.

Those doubts about the Hurricanes’ potential to create a solid return on their investments are augmented by Karmanos’ insistence that a replacement commit to keeping the franchise in Raleigh. The franchise could be much more attractive as a piece separate from its current market, perhaps as an asset which could be relocated to Seattle.

The other matter of speculation is what the payoff for Karmanos is in putting out the spin in the media that Greenberg is having difficulties raising the money. Even if it’s completely factual, it seems to be counterintuitive if Greenberg is the only serious buyer for Karmanos’ shares of the team.

It suggests that Karmanos believes that he has other potential buyers, perhaps even ones that he would prefer, for his share of the team. Putting out this message could act as bait for those buyers to take more serious action.

Next: Each NHL Team's Biggest 'What if

The only thing that is certain is that for now, the status quo will stay in place. For the future, everything else seems uncertain right now.

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