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Peter Karmanos Jr.

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Peter Karmanos Jr.(born March 11, 1943)[1][2]is an American businessman who was most recently the minority owner and alternate governor of theCarolina Hurricanesfranchise until June 30, 2021. He served as their principal owner from 1994 (when the Hurricanes were theHartford Whalers) to 2018. He also owned thePlymouth Whalersjunior ice hockey club from its establishment in 1990 until 2015, and was the majority owner of theFlorida Everbladesfrom 1998 to 2019.

Peter Karmanos Jr.
Born(1943-03-11)March 11, 1943(age 81)
Detroit, Michigan,U.S.
OccupationFormer CEO ofCompuware Corporation
Known forFormer owner of theCarolina Hurricanes
AwardsHockey Hall of Fame,2015

Early life

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Karmanos Jr. was born inDetroit,the oldest of three children of aGreekimmigrant family who owned a small restaurant in Detroit. Karmanos attendedHenry Ford High Schooland graduated fromWayne State Universityin 1973.[3]Soon after leaving college he foundedsoftware companyCompuwarewith two partners,Thomas Thewesand Allen Cutting.[4]Karmanos served as Compuware's CEO until June 20, 2011, when he became executive chairman.[5]Karmanos retired from Compuware on March 31, 2013, but maintained a consultant role within the company.[6]Compuware terminated his post-retirement consulting agreement, effective October 1, 2013.[7]He has since opened a new computer firm, Mad Dog Technology.[8]

Ice hockey ventures

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Karmanos co-founded the Detroit Compuware Hockey organization in the late 1970s with Thewes. The organization has included all levels of hockey from recreational toyouth AAAandjunior A.TheOntario Hockey Leagueawarded an expansion franchise on December 11, 1989, to be known as theDetroit Compuware Ambassadors.The team later became theDetroit Junior Red Wings,Detroit Whalersand thenPlymouth Whalersfollowing a relocation to nearbyPlymouth.[4]In 2015, Karmanos sold the Whalers to the owners ofFlint'sPerani Arena and Event Center,and the franchise was renamedFlint Firebirds.[9][10]He also sold thePlymouth arenatoUSA Hockey.[11]

Karmanos, his Compuware partner Thewes, and former playerJim Rutherfordpurchased theHartford Whalersin 1994, for $47.5 million. At the time, they had committed to keeping the team in Hartford for at least four years.[12][13]Connecticut's then-governorLowell P. Weickerannounced that Karmanos would be critical for the team to stay in Hartford. Weicker later became a member of the Compuware Board of Directors. Hartford sold less than 11,000 season tickets for the 1995–96 NHL season and Karmanos announced the team would leave Hartford if the Whalers were unable to sell 11,000 season tickets for the 1996–97 season.[14]Even though they surpassed 11,000 season tickets, the team was moved toRaleigh, North Carolina,and renamed theCarolina Hurricanesfollowing the 1996–97 season. As a result, Karmanos is still reviled by many people inConnecticut.[15]The Hurricanes reached the Stanley Cup Finals in2002,but lost to fellowDetroitbusinessmanMike Ilitch’sDetroit Red Wingsin five games. The Hurricanes went on to win theStanley Cupin2006,with Karmanos eagerly donning his skates, hoisting the Cup, and skating around with it briefly after the game seven win. For his day with the Cup, he brought it to Compuware headquarters in Detroit and allowed employees to get their photo taken individually with the Cup.[16]

Karmanos' Gale Force Holdings has a subsidiary dedicated to the NHL, Hurricanes Holdings, LLC, which includes the Hurricanes and their stadium,PNC Arena.The holdings also included the Hurricanes's formerECHLaffiliateFlorida Everblades,along with stadiumHertz Arenauntil 2019 when they both were sold to Naples businessman David Hoffmann.,.[16][17]

Karmanos received theLester Patrick Trophyfor outstanding service to hockey after the1997–98 season,theBill Long Awardin 2010 for services to theOntario Hockey League,and was inducted to theUnited States Hockey Hall of Famein 2013.[4]He was inducted to theHockey Hall of Famein the Builder Category in 2015.[18]

Karmanos also sponsors youth hockey programs in Michigan.

On January 11, 2018, it was announced that he had sold controlling interest in the Hurricanes toThomas Dundon,while retaining a minority interest.[19]On June 30, 2021, Karmanos sold his remaining shares in the Carolina Hurricanes to Dundon, making him the sole owner of the Carolina Hurricanes.[20]He sold the Florida Everblades in August 2019.[21]

Personal life

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Karmanos donated money to the Michigan Cancer Foundation, which was renamed theBarbara Ann Karmanos Cancer Institutein 1995 in memory of his first wife, Barbara Ann Karmanos, who died ofbreast cancerin 1989. In addition to three children with Barbara, Karmanos has four others with current wifeDanialle,and nine grandchildren.[13]

References

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  1. ^Inc, Leadership Directories; Company, Monitor Publishing (November 9, 1994)."Corporate Yellow Book: Who's who at the Leading Listed U.S. Companies".Monitor Publishing Company.RetrievedNovember 9,2017– via Google Books.{{cite web}}:|last1=has generic name (help)
  2. ^Adams, Alan (2011). "100 People of Power and Influence".The Hockey News.64:18.
  3. ^"10 things you may not know about Pete Karmanos Jr., who retires from Compuware on Sunday".Crainsdetroit.March 27, 2013.RetrievedNovember 9,2017.
  4. ^abcHurricanes' Karmanos a true hockey builder,NHL
  5. ^"Karmanos stepping down as Compuware Corp.'s CEO".Businessweek.June 7, 2011. Archived fromthe originalon June 11, 2011.
  6. ^"A golden parachute will gently carry Pete Karmanos into retirement",Crainsdetroit,March 29, 2013
  7. ^"Departure of Directors or Certain Officers".Investor puware.September 30, 2013. Archived fromthe originalon December 26, 2013.
  8. ^"Peter Karmanos starts new company – Mad Dog Technology – in Birmingham".Crainsdetroit.January 30, 2014.RetrievedNovember 9,2017.
  9. ^McMann, Aaron (February 2, 2015)."It's official: Ontario Hockey League approves Plymouth Whalers' move to Flint".MLive.The Flint Journal.RetrievedFebruary 2,2015.
  10. ^McMann, Aaron (March 16, 2015)."'Flint Firebirds' unveiled as name for Flint's new OHL team ".MLive.The Flint Journal.RetrievedMarch 16,2015.
  11. ^"USAH Foundation Completes Compuware Arena Purchase".USAHockey.March 31, 2015.RetrievedNovember 9,2017.
  12. ^"Whalers Sold, to Stay in Hartford".Articles.latimes.Associated Press. June 2, 1994.RetrievedNovember 9,2017.
  13. ^ab"Peter Karmanos Jr".Carolina Hurricanes.RetrievedNovember 9,2017.
  14. ^Hanley, Christine (April 10, 1996)."Hartford rally to save the Whale a so-so event".Boca Raton News.p. 1B.
  15. ^"Burnside: What moves have worked, what moves should be made".ESPN.December 20, 2006.RetrievedNovember 9,2017.
  16. ^ab"Hockey Hall of Fame - Stanley Cup Journals: 15".Hhof.RetrievedNovember 9,2017.
  17. ^"Hertz Arena, Everblades being sold to Naples businessman David Hoffmann".Naples Daily News.August 5, 2019.
  18. ^"Legends of Hockey - Induction Showcase - Peter Karmanos Jr".Hhof.RetrievedNovember 9,2017.
  19. ^Smith, Michael (January 13, 2018)."Dundon Becomes Majority Owner of Hurricanes".NHL.RetrievedJanuary 12,2018.
  20. ^"Dundon Assumes Full Ownership of Hurricanes".NHL.June 30, 2021.RetrievedJune 30,2021.
  21. ^"Hertz Arena, Everblades being sold to Naples businessman David Hoffmann".Naples Daily News.August 5, 2019.
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