Aug 17, 2014, 10:42 AM EDT
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 team claims to lose $30 million a year and have debt on their arena, which is leased to the Panthers until 2028, of about $250 million.
The story adds Broward County mayor Barbara Sharief and the county have hired a consultant who 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.
“We have kept our end of the bargain by signing six free agents on July 1 to more than $60 million of contracts and resigning some key young players to multi-year deals,” Cifu added.
Per CapGeek, the Panthers have over $65 million committed in player contracts for the upcoming season.
The Toronto Sun reported that the Panthers averaged 14,177 fans per game last season, which ranks 29th in the league.
In terms of potential cities for relocation, a report out of Seattle last week suggested real estate mogul Victor J. Coleman has begun discussions with Seattle business man Chris Hansen on agreement to allow an NHL team to play in his proposed SoDo Arena.
“We get lots of expressions of interest — whether it’s from Quebec City, Seattle, Las Vegas, or Kansas City — and we’re listening, but we haven’t enacted a formal process to begin considering expansion,” NHL commissioner Gary Bettman told the Sun April. “That’s not something we’re intent on doing right now, but we are listening.”
Quebec City may also be a viable option with a new $400 million arena set to open next year.
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.
Sep 1, 2015, 2:07 PM EDT
That’s per L.A. GM Dean Lombardi.
Sep 1, 2015, 12:55 PM EDT
Which leaves the question — would they make a move?
Sep 1, 2015, 12:00 PM EDT
He spent all of last season with Lehigh Valley.
Sep 1, 2015, 11:10 AM EDT
Sep 1, 2015, 10:04 AM EDT
Veteran forward heads overseas after appearing in 600-plus NHL contests.
Sep 1, 2015, 9:00 AM EDT
He’s got plenty of potential, but he doesn’t want to get ahead of himself.
Sep 1, 2015, 8:00 AM EDT
Tuesday’s collection of links.
Aug 31, 2015, 10:22 PM EDT
His first game against Boston is scheduled for Feb. 9.
Aug 31, 2015, 9:00 PM EDT
The start of his rookie campaign is approaching.
Aug 31, 2015, 7:30 PM EDT
Who will take advantage of the opening?
Aug 31, 2015, 6:00 PM EDT
The two have previously played together on the Czech national team.
Aug 31, 2015, 4:30 PM EDT
Former coach Jeff Daniels is also staying within the organization after being relieved of his AHL coaching duties.
Aug 31, 2015, 3:00 PM EDT
Looking to score an AHL deal.
Aug 31, 2015, 2:12 PM EDT
You can expect this question to be asked throughout the year.
- Report: Hawks feel Kane ‘disrespected’ team, have received trade calls 82
- Hawks’ biggest question: What happens with Patrick Kane? 75
- 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
- Quebec City, Vegas advance to final phase of NHL expansion process 50