Carolina Hurricanes owner Tom Dundon agreed to a deal that marks one of the highest valuations ever for an NHL team.
According to Sportico, Dundon has reportedly finalized a deal to offload 12.5 percent of his franchise for a valuation of $2.66 billion.
Tom Dundon (C) of the Carolina Hurricanes attends the 2019 NHL Draft at Rogers Arena on June 22, 2019 in Vancouver, Canada.
4
Dundon is finalising a deal to offload 12.5% of the Carolina HurricanesCredit: Getty
Three investors are reportedly coming aboard as minority partners, although their names are yet to be revealed.
The agreement, which is yet to be confirmed, places the Hurricanes among the most valuable transactions in the history of the sport.
Only two deals have ever approached such financial territory -- Montreal’s partial sale two-years ago, and Toronto’s which included the broader Maple Leaf Sports & Entertainment.
Dundon purchased the team seven years ago for $420 million. At the time of his purchase, Carolina hadn’t qualified for the postseason in nine-straight years.
READ MORE NHL
Home attendances ranked near the bottom of the league, with crowds averaging just over 13,000 at Lenovo Center.
But under Dundon’s leadership, the Hurricanes have reached the playoffs in all seven seasons, advancing to the conference finals three times.
Attendance has surged to become top-10 in the league, with every home game a sellout in 2024.
He also secured development rights for 80 surrounding acres for additional revenue growth outside of game-day operations.
The Hurricanes have appreciated significantly since the purchase.
It was the NHL’s 15th most valuable franchise in 2025 at $1.92 billion according to Sportico. Collectively, the league’s 32 franchises were worth $67.1 billion.
Tom Dundon, left, owner of the Carolina Hurricanes, and Charlie Ebersol, of the Alliance of American Football, speak to media before an NHL game against the New York Rangers on February 19, 2019 at PNC Arena in Raleigh, North Carolina.
4
Dundon purchased the Hurricanes for $420 million seven years ago.Credit: Getty
Mark Jankowski #77 Carolina Hurricanes high fives teammates after scoring his team's second goal during the third period at Lenovo Center on March 10, 2026 in Raleigh, North Carolina.
4
Dundon’s leadership has seen the value of the franchise jump to $1.92 billionCredit: Getty
Dundon also set to complete purchase of NBA team in Spring
Alongside his moves in the NHL, Dundon agreed to buy the NBA’s Portland Trail Blazers from the estate of Paul G. Allen in 2025.
It cost Dundon and his group of investors just over $4 billion to complete the purchase, after they were listed for sale in May 2025.
Allen passed away from cancer in 2018, and his will called for the franchise to be sold, along with the NFL’s Seattle Seahawks.
There were questions about the purchase, however, with the city of Portland worrying he could move the Trail Blazers out of the region.
The Blazers’ lease deal to play at Moda Center, which opened in 1995, has four more years left.
Bill Oram of Oregon Live made a plea for state and local leaders to take the possibility of losing the team seriously.
Frederik Andersen #31 of the Carolina Hurricanes is honored in a ceremony for his 500 career NHL games and 300 career victories prior to a game against the Chicago Blackhawks at Lenovo Center on January 30, 2025 in Raleigh, North Carolina.
4
Dundon is also finalising a $4 billion purchase of the Portland Trail BlazersCredit: Getty
Portland does not have a franchise in Major League Baseball, the NFL or the NHL.
Read More on talkSPORT
After the publication, Oregon lawmakers introduced legislation to prove up to $600 million in public funding to renovate the Moda Center.
Stay up to date with the latest from US Sports across all platforms - follow our dedicatedtalkSPORT USA Facebook pageand subscribe to ourtalkSPORT USA YouTube channelfor all the news, exclusives, interviews and more.