In January 2019, Dundon acquired the majority stake in the franchise and served as the club’s CEO and governor, in addition to his role as owner.
Wednesday’s deal marks the first time Peter Karmanos Jr. has not owned at least a minority stake in the franchise since he acquired the Hartford Whalers in 1994. He moved the team to North Carolina three years later. .
“Pete has had a huge impact on the sport of hockey in the United States since the 1970s,” Dundon said in a press release.
“His vision laid the foundation for the success we now experience in Raleigh, and his legacy will always remain a part of this organization. We are also grateful for the efforts of the minority investors at Hurricanes Holdings who have provided significant support to the franchise over the years. “
The Hurricanes won the Central Division of the NHL in 2020-21, advancing to the second round of the NHL playoffs before being ousted by the defending champion, the Tampa Bay Lightning.
Carolina has advanced to the playoffs in each of Dundon’s three full seasons as an owner.