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Yormark out as Panthers president

Mar 3, 2014, 12:14 PM EDT

This Oct. 10, 2013 photo shows Florida Panthers president Michael Yormark posing next to the new Panasonic HD scoreboard at the BB&T Center in Sunrise, Fla. The scoreboard was purchased with a $4.2 million grant from Broward County and will be used when the Panthers play the Pittsburgh Penguins at the BB&T Center on Friday. (Photo by Omar Vega/Invision/AP) AP

From the Miami Herald:

After more than a decade of running the organization, team president Michael Yormark is leaving the Florida Panthers.

Sources close to the situation say Rory Babich will take over for Yormark on Monday afternoon.

Yormark is leaving the Panthers to run the business side of Roc Nation — a sports and entertainment agency headed by Jay-Z. Two former Florida employees with close ties to Yormark already left for Roc Nation over the past few weeks.

Tough to say if this move will have any impact on the team’s fortunes. Probably not, at least in a significant way. This coming offseason may though, as new Panthers ownership is apparently prepared to open the purse strings and let general manager Dale Tallon spend all the way to the cap.

Related: How the Panthers make money despite, er, losing money

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