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Soshnick reports the the deal would keep the Hurricanes in Carolina under the new ownership.

The Hurricanes' current owner, Peter Karmanos, has been exploring sale options for a while now.

According to Soshnick, the transaction would be valued at $ 500 million.

Thirteen years into the franchise's stint in Carolina, Karmanos went on record to say, "We'd have to be idiots to move from here", according to ESPN, but it appears a sale could very well be in the works just two years later. He had been publicly seeking a local buyer for at least three years.

As for the potential new owner, differences with partner Nolan Ryan led to Greenberg's resignation from the Rangers in 2011.

In the traditional point of press surrounding the weekend of the stars, the commissioner Gary Bettman has tried to be convincing on this topic by ensuring that the "Canes" will remain in Raleigh, putting a cross on the scenario of a relocation. Bettman said at the All-Star game in January that "the club is not moving" and NHL deputy commissioner Bill Daly echoed that sentiment by saying the league is committed to Raleigh in the same manner it has stuck with Phoenix during years of struggles for the Coyotes.

The reported $500 million price tag is also over twice the Carolina Hurricanes' estimated value.

The Hurricanes have been in Carolina the past 20 years after relocating from Hartford in 1997.

In its most recent franchise valuations, Forbes magazine ranked the Hurricanes last in the National Hockey League at $230 million. They averaged 12,204 at home the year before.