Dundon has option of selling Hurricanes after 3 years, but 'we're not going to do that'
When Tom Dundon became the majority owner of the Carolina Hurricanes in January, it was announced he had bought a 61-percent stake in the team, with the option of buying the remaining 39 percent after three years.
Not announced: Dundon also has the option to sell his 61-percent share after three years and leave, he said Monday.
“We’re not going to do that, but it is part of the contract,” Dundon said.
Dundon, a Dallas billionaire, said former majority owner Peter Karmanos Jr. would not be forced to sell his share of the team if Dundon decided to pull out.
“But I have an option,” Dundon said. “That’s how I do deals. What if I didn’t like hockey? It was a nice option to have, but it turns out it looks like it’s unnecessary.”
When Dundon officially became majority owner Jan. 11, it was reported he agreed not to apply to relocate the franchise for seven years, said to be a standard part of NHL purchase agreements. The ownership transfer was generally met with approval from Canes fans.
Dundon believed bigger, more enthusiastic home crowds in PNC Arena and a more positive vibe around the team could carry it into the playoffs.
That didn’t happen. The home crowds were up by a league-best 13.11 percent for the season, the biggest jump in the league, including an average increase of 1,500 more fans per game starting with the Jan. 12 game against Washington. For the season, average attendance was 13,321 , 29th in NHL.
But the Canes were 16-20-3 in the final 39 games, failing to qualify for the Stanley Cup playoffs for the ninth straight year, the longest streak in the NHL.
“It’s fairly obvious on the hockey side we aren’t good enough to make the playoffs,” Dundon said. “The record tells you who you are. We were pretty healthy, and we weren’t good enough.
“We’re probably not hard enough to play against. We probably don’t score enough. And there’s something missing in terms of our engagement.”
A year ago, general manager Ron Francis and Canes coach Bill Peters handled the players’ exit interviews after the season. Dundon has since reassigned Francis and did the exit interviews himself on Monday.
Dundon said no decision has been made on whether Peters, who has a year remaining on his contract, would return. Dundon also confirmed Peters has the option of getting out of this final contract year and taking another job.
“We’re just trying to work through it,” Dundon said. “Right now it’s just one of many things we need to do as we consider our future.”
Dundon is still in the process of hiring a general manager to replace Francis, a Hockey Hall of Fame member who became the Canes’ GM in 2014. Dundon said team president Don Waddell, a former NHL GM, was serving as interim general manager.
This story was originally published April 9, 2018 at 2:40 PM with the headline "Dundon has option of selling Hurricanes after 3 years, but 'we're not going to do that'."