Panthers’ Ownership Uncertain Of Future In Florida
Will Panthers Remain In Florida?
Doug Cifu wants to keep the Panthers in Florida, but the way things are going, it’s just not sustainable.
Speaking to Fox Sports last weekend, Cifu, who along with business partner Vinnie Viola purchased the team for $230 million last September, is uncertain of where the team will be in 5-10 years.
“The arena and the team have lost a significant amount of money year over year for the last 10-plus years and the current business model is not sustainable,” Cifu said.
According to The Hockey News, the Panthers claim to lose $30 million a year and have a debt on their arena, which is leased to the Panthers until 2028, of about $250 million.
A consultant is looking into the possibility of allowing the Panthers out of their arena lease and the opportunity to relocate. The results of that report are expected in October.
For more on this story, visit Dhiren Mahiban (Pro Hockey Talk).