Nov 26, 2012, 2:42 PM EDT
If you’ve ever wondered why anyone would want to own a money-losing NHL team in South Florida, Panthers president Michael Yormark puts it this way:
“I often tell people, we’re in the entertainment business and we happen to own a hockey team. For us, it’s just about providing as much entertainment as we possibly can for our community.”
The “we” Yormark refers to is actually the Panthers’ parent company Sunrise Sports & Entertainment (SSE), which owns both the NHL club as well as an entity called Arena Operating Company (AOC), which as you may have guessed, operates the Sunrise arena in which the Panthers play, the BB&T Center.
The Panthers, as a standalone NHL franchise, aren’t profitable, according to estimates.
But AOC is.
Without the Panthers, however, there wouldn’t be an AOC. That’s because, back in the ‘90s, Broward County built the arena to lure the NHL franchise out of Miami. As part of the deal, the team’s ownership company was granted a 30-year license to operate the arena.
The hockey team, in other words, was the foot in the door.
“We’ve got a niche in the marketplace with our hockey team and a very loyal fanbase,” Yormark tells Forbes, “but our value proposition is all about the entertainment. It’s 170-200 events a year, almost two million people in this building on an annual basis, and we have been successful.”
This Friday, for example, the BB&T Center will host Beatdown 2012, a boxing competition with musical performances by Flo Rida, Fabolous, Waka Flocka, DMX, Travis Porter and Fat Joe. (Tickets are still available!)
Without the Panthers, there’s no rent from Beatdown 2012.
SSE also recently partnered with a Las Vegas gaming company in an attempt to build a casino on land around the arena.
“We are beginning to make a shift into the real estate business with this new venture,” said Yormark.
Without the Panthers, there’s no real estate business.
All of which is surely frustrating for the players, who are being asked to accept a smaller share of hockey-related revenues to offset owners’ losses that are, in some cases, being made up in other areas.
Sep 2, 2015, 11:30 PM EDT
Bakersfield and Stockton will play in West Sacramento, Calif. on Dec. 18.
Sep 2, 2015, 10:00 PM EDT
As many as five teams are reportedly interested in acquiring the 26-year-old.
Sep 2, 2015, 8:45 PM EDT
He was expecting a two or three year contract.
Sep 2, 2015, 5:00 PM EDT
The 26-year-old refuted an Ilta-Sanomat story.
Sep 2, 2015, 3:35 PM EDT
The 23-year-old appeared in 38 games with Chicago last season.
Sep 2, 2015, 1:57 PM EDT
“I’m a realist. If nothing happens, that’s the way it is.”
Sep 2, 2015, 12:34 PM EDT
Can he beat out Cam Talbot and Ben Scrivens?
Sep 2, 2015, 12:05 PM EDT
“I know that it’s not just me that feels I can be a lot better and be the player that I know I’m going to be and I want to be.”
Sep 2, 2015, 11:47 AM EDT
Another diamond in the rough?
Sep 2, 2015, 10:59 AM EDT
He also wanted them to get swept in the opening playoff round against Nashville, apparently.
Sep 2, 2015, 9:54 AM EDT
After missing most of last season with a back injury.
Sep 2, 2015, 9:00 AM EDT
It will be raised before the home opener on Oct. 10.
Sep 2, 2015, 8:00 AM EDT
Wednesday’s collection of links.
Sep 1, 2015, 10:11 PM EDT
They were near the bottom of the league in that regard last season.
Sep 1, 2015, 9:03 PM EDT
“The way he offered his house to me shows what kind of person he is.”
Sep 1, 2015, 7:33 PM EDT
They had strong attendance numbers last season too.
Sep 1, 2015, 6:04 PM EDT
The Blues have a vacancy with Patrik Berglund out for at least four months.
Sep 1, 2015, 5:05 PM EDT
A few players have leapfrogged Steven Stamkos.
Sep 1, 2015, 3:35 PM EDT
He played through the injury in 2014-15.
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- Report: Hawks feel Kane ‘disrespected’ team, have received trade calls 114
- Hawks’ biggest question: What happens with Patrick Kane? 81
- Hall of Famer Al Arbour passes away 22
- Poll: Who will be San Jose’s next captain? 24
- Mike Richards charged with possession of controlled substance 95
- Gio won’t go: Flames extend Giordano for six years, $40.5M 13
- Pens’ plan for now: Crosby starts as Kessel’s center 25
- O, Dear: Russia fined $85K for skipping Canadian anthem 31
- Kings ink Ehrhoff to a one-year, $1.5 million deal 27
- Report: Hawks feel Kane ‘disrespected’ team, have received trade calls (114)
- Mike Richards charged with possession of controlled substance (95)
- Hawks’ biggest question: What happens with Patrick Kane? (81)
- Lucic jokes about running through Rask ‘like I did (to) another goalie’ (42)
- It’s Chicago Blackhawks day at PHT (39)