Chuck Greenberg, once part-owner and CEO of the Texas Rangers, is close to completing an agreement to buy the National Hockey League’s Carolina Hurricanes for about $500 million, according to people familiar with the deal.

The team will stay in North Carolina. Greenberg will seek to add local investors to the ownership group and plans to split his time between Raleigh and Dallas, said the people, who asked for anonymity because the negotiations are private.

The nearly $500 million price tag is roughly the same as what Bill Foley recently paid to bring an NHL expansion team to Las Vegas. It’s also more than double Forbes’ recent estimate of the team’s value -- $230 million, least among U.S. hockey teams.