Carolina Hurricanes owner Peter Karmanos Jr. finalised an agreement to sell the NHL franchise to Texas investor Tom Dundon.
NHL commissioner Gary Bettman told reporters on Thursday the deal was agreed to on Wednesday night ahead of an interview with the executive committee of the league's board of governors.
Bettman also attempted to quell the fears of Carolina fans by insisting the Hurricanes will not be relocated.
"I want to address one manner about as crystal clear and as absolute terms as I can: Tom Dundon is buying his interest in the Hurricanes to have the Hurricanes in Carolina," Bettman said.
"This is not a team that is being moved. The rumours that it might be moving somewhere else are absolutely incorrect, made up, fabrications, wrong, wrong, wrong."
Houston Rockets owner Tilman Fertita has expressed an interest in adding an NHL team to Toyota Center but Bettman added: "The club are not going anywhere with Mr. Dundon's purchase, and for those of you who know geography, the fact that he lives in Dallas and that happens to be in the same state as Houston has nothing to do with anything.
"He's buying the club to have them in Carolina. I want to be crystal clear on this because it's really not fair to the players, the fans or anybody in the [Research] Triangle that this rumour has started. It's just not accurate."
Meanwhile, Dundon told the Hurricanes' website: "I am thrilled to continue to build upon what Peter Karmanos started in Raleigh.
"The Hurricanes are a team on the rise, and I believe we have an opportunity to take the franchise to the next level. I'm ready to get to work."