Carolina Hurricanes majority owner Tom Dundon made official Thursday what has been widely reported for months: Three new investors have joined the Canes’ ownership group.

According to a news release, Brett Jefferson, Marc Grandisson and Bobby Farnham have joined the ownership group. Dundon retains majority ownership and will continue as lead governor of the team.

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“Brett, Marc and Bobby are accomplished business executives whose experiences and knowledge will help us continue to grow our team’s success and impact in the Triangle,” Dundon said in the release. “Brett lives in the Triangle and Marc will soon relocate to Raleigh, so their influence will be locally-based. As a former NHL player, Bobby is uniquely positioned to help our ownership group as we move forward.”

Last week, Sportico reported Dundon had agreed to sell a 12.5% share of the NHL at a $2.66 billion total valuation, a roughly $319 million cash infusion. Sportico, a sports business media outlet, did not identify the three partners at the time.

The transaction is related to Dundon’s ongoing deal to purchase the Portland Trail Blazers of the NBA. A Dundon-led group reached a formal agreement to purchase the Portland franchise in September 2025 for $4.25 billion. That sale is expected to be finalized in stages, over a few years, according to a report from Front Office Sports.

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Dundon’s NBA ownership group also includes Sheel Tyle, the co-founder of investment firm Collective Global, Marc Zahr, co-president of Blue Owl Capital, and the Cherng Family Trust, which is the family office and investment firm of Andrew and Peggy Cherng, the co-founders of restaurant chain Panda Express.

Who are the Hurricanes’ new owners?

Brett Jefferson, a Hurricanes season ticket-holder who lives in Durham, is the founder, president and co-CIO of Hildene Capital Management, an asset management firm specializing in structured finance investments. Jefferson oversees investment decisions and strategic direction for the firm.

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A national champion lacrosse player at Syracuse in 1988, Jefferson remains actively involved in philanthropy and athletics as a minority investor in the Oshawa FireWolves of the National Lacrosse League, and as a supporter of organizations such as The Tewaaraton Foundation, Team IMPACT and the Catherine Jefferson Foundation.

Marc Grandisson is a retired Canadian executive in reinsurance and the insurance industry, best known for his long tenure at Arch Capital Group Ltd., where he ultimately served as CEO from March 2018 until his retirement in October 2024.

Born and raised in Chicoutimi, Quebec, Canada, he earned an undergraduate degree from Université Laval in 1990, and an MBA from The Wharton School of the University of Pennsylvania in 2000. Prior to his tenure at ACGL, he worked for Towers Watson, Berkshire Hathaway and F&G Re. According to Dundon, Grandisson and his wife plan to relocate to the Raleigh area.

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Bobby Farnham is a former professional hockey player who appeared in 67 career NHL games with the Pittsburgh Penguins, New Jersey Devils and Montreal Canadiens, and in more than 400 AHL games. Raised in North Andover, Massachusetts, he attended Brown University, graduating in 2012.

Following his playing career, Farnham graduated from Harvard Business School and later co-founded Fourth Line Capital, a private investment platform focused on real estate and direct investments. Farnham is also a member of the family ownership group of Market Basket, a New England-based supermarket chain that has been embroiled in a very public legal battle for control of the company. Farnham lives in Boston with his wife and son.

Tom Dundon’s Hurricanes history

Dundon began negotiations with former Canes owner Peter Karmanos concerning buying into the Hurricanes in the fall of 2017. He became the majority owner, buying 52% of the team for $420 million, in January 2018.

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Dundon installed Rod Brind’Amour as the team’s new coach, and has been willing to spend to the salary cap to make the team competitive. The Canes have reached the playoffs each year under Brind’Amour, have won Stanley Cup playoff rounds and have reached the Eastern Conference Final three times, but have not reached a Stanley Cup final.

Dundon’s agreement and the size of the valuation further underscores how valuable major league sports franchises have become.