Carolina Hurricanes owner Peter Karmanos is in discussions to sell the team to billionaire Dallas businessman Thomas Dundon, according to Sportsnet’s John Shannon.

The potential deal with Dundon precludes the team from leaving Carolina, adds Shannon.

Karmanos has owned the team since 1994 when they played out of Hartford and were known as the Whalers. He moved the team to Carolina in 1997-98, where they became known as the Hurricanes and later won a Stanley Cup in 2006.

According to a story in the Raleigh News and Observer, there may be three more potential buyers for the team after talks over the summer with Chuck Greenberg slowed down.

“The Greenberg thing had been ongoing as we all know,” Waddell told Chip Alexander. “It has slowed down. We haven’t heard back from Chuck in a while. We believe he is actively trying to find investors.

“But there are other groups that have now stepped forward and taking hard looks at the franchise. Obviously, Tom Dundon’s name came out today, a Dallas businessperson who has a lot of interest.”

According to Shannon, the league says it’s premature to say a sale to Dundun, or other remaining interested parties, is nearing completion.

If the club is sold to Dundun, indications are that Karmanos would retain some level of ownership, even in a minority role.