Chuck Greenberg a prominent Pittsburgh businessman who almost became the Pirates CEO instead of Frank Coonelly in 2007, is close to buying the Carolina Hurricanes.

According to Bloomberg news, the Hurricanes have signed a letter of intent to sell to Greenberg.

Greenberg will purchase the team for around $500 million and plans to keep the team in Raleigh.

Greenberg, a close friend of Mario Lemieux, is the former owner of the Texas Rangers but was pushed out a few years ago by Nolan Ryan.