The Carolina Hurricanes' future has reportedly been secured after an agreement was reached for former Texas Rangers owner Chuck Greenberg to buy the hockey franchise.
Per Jeff Gravley of WRAL-TV, the Hurricanes signed a letter of intent to be sold to Greenberg that ensures they will remain in Raleigh, North Carolina.
The Hurricanes would release a statement that didn't confirm the deal was official, via Elliotte Friedman of Sportsnet.ca: "Since an offer has been made to purchase the team, Mr. Karmanos intends to evaluate that offer and also will continue to evaluate his other options, including retaining his ownership of the team."
Bloomberg's Scott Soshnick reported Greenberg paid approximately $500 million to buy the Hurricanes from Peter Karmanos Jr.
Karmanos told TSN's Pierre LeBrun in January he was "open to the possibility of selling the entire team" if the right offer came along.
The Hurricanes have been in Carolina the past 20 years after relocating from Hartford in 1997.
Greenberg was part of a group that won the auction bidding to purchase the Rangers in 2010. He stepped down as the team's managing partner and CEO in March 2011.