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Dundon completes Carolina Hurricanes takeover

Dallas-based billionaire Tom Dundon has been confirmed as the new majority owner of the Carolina Hurricanes NHL North American ice hockey franchise.

The deal was completed yesterday (Thursday), two months after Dundon agreed in principle to acquire a controlling stake in the franchise from Peter Karmanos, who will retain a minority shareholding after looking for a buyer for about three years.

The NHL’s board of governors has already approved the transaction.

Dundon, 46, is the former chief executive of the Dallas-based lender, Santander Consumer USA. He has also helped to finance the development of a new golf course in Dallas and is an investor in the Top Golf chain of facilities.

The team will not be relocating following the takeover, according to NHL commissioner Gary Bettman.

The financial details behind the deal have not been disclosed, but Karmanos was reportedly seeking a fee of $500m (€412m).

On the ice, the team has not reached the playoffs since 2009.

Dundon and Bettman will be presented to the media at a press conference later today (Friday).

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