Carolina Hurricanes majority owner Peter Karmanos Jr. has been considering an offer to buy the team for several weeks, but said Tuesday he believes the team's value could continue to rise.

Karmanos told Chip Alexander of the Raleigh News & Observer that 11 or 12 groups have approached him with interest in the team, but he is giving former Texas Rangers CEO Chuck Greenberg a chance to put together his ownership group before making a decision.

Bloomberg reported last month Greenberg had offered $500 million to buy the team and Karmanos confirmed he had a term sheet but no purchase agreement in place. He said Tuesday the price could "shake out" between $450-$500 million.

According to Bloomberg, Greenberg plans to keep the team in Carolina should he acquire the franchise.

Karmanos, who owns the team with 18 minority investors, added that the price to could rise to $550-$600 million if he has wait for Greenberg to form his group and the Hurricanes have a successful season.

Greenberg left the Rangers in 2011 after seven months as CEO and two seasons as a part owner of the team.

Karmanos: "Once (Greenberg) has done that we'll examine whether his offer cuts the mustard." Says he likes Greenberg. — Chip Alexander (@ice_chip) August 1, 2017

Forbes valued the franchise at $230 million earlier this year.

According to 24/7 Wall St., the team's attendance has dropped 32 per cent from 10 years ago with only 63 per cent of seats for home games filled last season.

The franchise moved to Raleigh, North Carolina from Hartford ahead of the 1997-98 season. The team won the Stanley Cup in 2006, but has made the postseason just once since, in 2009 when Carolina lost in the conference final. The Hurricanes finished last season 36-31-15 in their third season under head coach Bill Peters.

General manager Ron Francis is among the minority owners of the team.