{"id":1580,"date":"2026-06-02T20:38:12","date_gmt":"2026-06-02T20:38:12","guid":{"rendered":"https:\/\/durhammovinghub.com\/?p=1580"},"modified":"2026-06-02T20:38:12","modified_gmt":"2026-06-02T20:38:12","slug":"nc-could-have-been-a-canes-owner-the-state-deemed-it-cool-but-too-risky","status":"publish","type":"post","link":"https:\/\/durhammovinghub.com\/?p=1580","title":{"rendered":"NC could have been a Canes owner. The state deemed it \u2018cool\u2019 but too risky"},"content":{"rendered":"

AI-generated summary reviewed by our newsroom.<\/p>\n

Read our AI Policy.<\/a><\/p>\n

North Carolina had a chance to buy a stake in the Carolina Hurricanes but considered the team \u2014 now in the Stanley Cup Finals \u2014 too much of a risk.<\/p>\n

Read more How bonding with his sons made NC Gov. Josh Stein an \u2018intense\u2019 Canes fan<\/a><\/p>\n

Really.<\/p>\n

State Treasurer Brad Briner, a Republican, said Tuesday as he gave a report in a Council of State meeting that he wanted \u201cto tell you about an investment we didn\u2019t make last year, and that was in buying a portion of the Carolina Hurricanes.\u201d<\/p>\n

\u201cIt\u2019s obviously embarrassing as we sit here today,\u201d Briner told his fellow Council of State members, who are the state\u2019s 10 statewide elected officials in the executive branch, including the governor.<\/p>\n

\u201cIt would obviously be cool to own it as a state, as a pension system, but we don\u2019t get to consider that as part of our investment,\u201d Briner said. The state treasurer\u2019s office is in charge of the state\u2019s pension system for hundreds of thousands of retired public employees.<\/p>\n

\u201cWe just need to look at the balance, and we\u2019ve concluded that while the Canes is an amazing franchise, as a business it didn\u2019t meet our risk and return objectives,\u201d he said.<\/p>\n

\u201cIt reminds me of Yogi Berra\u2019s famous quote \u2014 that it \u2018is tough to make predictions, particularly about the future,\u2019\u201d Briner said.<\/p>\n

Read more How to watch the Canes in the Stanley Cup Finals on TV or streaming<\/a><\/p>\n

Berra<\/a> was an icon of Major League Baseball as a player, coach and manager \u2014 and a font of quotable sayings.<\/p>\n

While the state passed on investing in the Canes that way, Briner reported the pension fund has made $25 billion in investment gains<\/a> since he took office in January 2025.<\/p>\n

\u201cOur pension deficit is cut in half. We are now to a record $148 billion of assets in the pension system,\u201d he said.<\/p>\n

The Canes, who play Game 1 and Game 2 of the Stanley Cup Finals in Raleigh this week, last won the Stanley Cup in 2006.<\/p>\n

Read more Wake\u2019s 14,000 red dots: See a century of housing restrictions on new searchable map<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

State Treasurer Brad Briner said North Carolina considered buying the Carolina Hurricanes but rejected the NHL team as too risky for the state pension system.<\/p>\n","protected":false},"author":1,"featured_media":1579,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-1580","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-read-todays-edition"],"yoast_head":"\nNC could have been a Canes owner. 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