Despite assurances made when he purchased the team in 1994 that the Whalers would remain in Hartford at least through 1998, in March 1997 owner Peter Karmanos announced that the team would move elsewhere after the 1996 – 1997 season because of the team’s inability to negotiate a satisfactory construction and lease package for a new arena in Hartford. On May 6, 1997, Karmanos announced that the Whalers would move to the Research Triangle area of North Carolina and the new Entertainment and Sports Arena in Raleigh.