Skip to content

Pols support Panthers bailout plan; Co-owner says team is losing $100K daily

Feb 19, 2014, 8:37 PM EDT

Douglas Cifu AP

Remember when the new owners of the Florida Panthers asked Broward County for money because they claimed to be losing $20-$30 million annually? Politicians there reportedly support the plan to help out the franchise.

Brittany Wallman of the Sun Sentinel reports six out of eight Broward County commissioners support a plan to give money to the team to help make sure the team stays in South Florida. The Panthers are asking for an extra $80 million.

Team co-owner Douglas Cifu said the money is needed because they’re bleeding money even worse than what was previously assessed.

“We’re losing $100,000 a day,” said Cifu. “So where I sit, time is of the essence.”

The one good thing going for the Panthers is they have one of the best lease deals in the NHL. Concerts and other events at BB&T Center are making money for the team and the deal runs through 2028.

Working against the Panthers is the amount of debt left to pay on the arena, totaling around $225 million. The team is looking to get a break on  payments against that through money taken from tourist taxes that have produced more money than they expected over the years.

Latest Posts
  1. Modano: Stars need more from Benn, Lehtonen and Seguin

    Apr 19, 2014, 1:29 AM EDT

    Jamie Benn, Mike Modano AP

    Ryan Getzlaf, Frederik Andersen and Corey Perry “are winning that battle,” he said.

  2. Alfredsson praises ‘outstanding’ Howard after shutting out B’s

    Apr 18, 2014, 11:59 PM EDT

    Howard AP

    “It was one individual effort that made the difference today.”

  3. Video: Lucic spears DeKeyser from behind

    Apr 18, 2014, 10:27 PM EDT

    Lucic spear

    There was no penalty on the play.

  4. Detroit stuns favored Bruins with late goal to take Game 1

    Apr 18, 2014, 10:08 PM EDT

    Jimmy Howard, Niklas Kronwall, Patrice Bergeron AP

    Jimmy Howard had a shutout in the goaltending duel.

  5. Playoff viewership way up through first two days

    Apr 18, 2014, 9:09 PM EDT

    nbcsn_acronym_logo_horizontal_finalsmall

    Naturally, the Blackhawks-Blues triple-overtime game was very popular.

  6. Video: Bruins establish physical game early

    Apr 18, 2014, 8:51 PM EDT

    Pavel Datsyuk, Patrice Bergeron Pavel Datsyuk, Patrice Bergeron

    Detroit was near the bottom of the pack in hits in the regular season.

  7. Video: Canadiens end long power-play drought

    Apr 18, 2014, 8:34 PM EDT

    Montreal goal

    They took a 1-0 lead over Tampa Bay in the process.

  8. Chicago looks past triple-overtime loss

    Apr 18, 2014, 8:23 PM EDT

    Chicago Blackhawks v St. Louis Blues - Game One Getty Images

    “We expected a tough series against (St. Louis).”

  9. Yeo argues Wild need to be more physical with rookie MacKinnon

    Apr 18, 2014, 7:43 PM EDT

    Nathan MacKinnon AP

    The rookie had three assists last night.

  10. WATCH LIVE: Detroit Red Wings at Boston Bruins (Game 1)

    Apr 18, 2014, 7:04 PM EDT

    Gustav Nyquist, Tuukka Rask AP

    The last of the first round series is about to begin.

  11. Quenneville gets $25,000 fine for ‘bush-league move’

    Apr 18, 2014, 6:17 PM EDT

    Joel Quenneville AP

    This isn’t the first time he’s been fined.

  12. Poile: Nashville’s defense will be best we’ve ever had

    Apr 18, 2014, 5:59 PM EDT

    sethjonesgetty Getty Images

    That’s a pretty bold statement, given that Nashville used to have blueliners like Kimmo Timonen and Ryan Suter.

  13. Report: AHL could have new division in western U.S.

    Apr 18, 2014, 5:06 PM EDT

    AHLlogo

    Apparently, the “Coyotes, Ducks, Kings, and Sharks are on board” with relocating their minor-league affiliates closer to home.

Featured video

Detroit must exploit Boston's young D
Top 10 NHL Player Searches
  1. T. Oshie (4123)
  2. E. Malkin (3995)
  3. M. Duchene (3702)
  4. B. Bishop (3159)
  5. H. Zetterberg (2860)
  1. O. Palat (2707)
  2. V. Tarasenko (2635)
  3. D. Backes (2531)
  4. P. Bergeron (2449)
  5. R. Getzlaf (2374)