Tom Dundon to sell 12.5% of Hurricanes at $2.66 billion valuation, report says
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- Dundon agrees to sell 12.5% of Hurricanes at a $2.66 billion valuation.
- Partial sale follows Dundon’s 2018 majority purchase and roster investments.
- Deal highlights rising franchise values as Hurricanes push for playoff run.
Carolina Hurricanes owner Tom Dundon has agreed to sell 12.5% of the NHL team at a $2.66 billion valuation, it was reported Thursday by Sportico.
Sportico, a sports business website, said there were three minority partners, but did not identify them, citing a request for anonymity.
Dundon, a Dallas multi-billionaire, bought the NBA’s Portland Trail Blazers last August for $4.2 billion and there have been unsubstantiated reports the past few months of him looking to sell off part of the Hurricanes to help finance the NBA purchase.
Dundon could not be reached Thursday for comment.
Dundon began negotiations with former Canes owner Peter Karmanos about buying into the Hurricanes in the fall of 2017. He became the majority owner, buying 52% of the team for $420 million, in January, 2018.
Dundon quickly installed Rod Brind’Amour as the team’s new coach and has been willing to spend to the salary cap to make the team competitive. The Canes have reached the playoffs each year under Brind’Amour and have won Stanley Cup playoff rounds but have not reached a Stanley Cup final.
Dundan’s agreement and the size of the valuation further underscores how valuable major league sports franchises have become.
The news Thursday came a day before the NHL trade deadline as the Hurricanes, who lead the Eastern Conference, try to gear up a deep Cup run.
This story was originally published March 5, 2026 at 1:17 PM.
