Skip to content

Panthers’ owner uncertain of future in Florida

Aug 17, 2014, 10:42 AM EDT

Roberto Luongo Getty Images

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.

Related: Report: Devils to lose money in 2014-15

 

Latest Posts
  1. Canes coach Peters making tweaks with emphasis on being more dangerous offensively

    Sep 1, 2015, 10:11 PM EDT

    Carolina Hurricanes v Buffalo Sabres Getty Images

    They were near the bottom of the league in that regard last season.

  2. Eichel planning to move in with Moulson

    Sep 1, 2015, 9:03 PM EDT

    Jack Eichel Getty Images

    “The way he offered his house to me shows what kind of person he is.”

  3. St. Louis offers Upshall a professional tryout

    Sep 1, 2015, 6:04 PM EDT

    Scottie Upshall Getty Images

    The Blues have a vacancy with Patrik Berglund out for at least four months.

  4. Crosby, Toews, Weber, Price lead pack in NHL 16’s ratings

    Sep 1, 2015, 5:05 PM EDT

    2014 NHL Stadium Series - Pittsburgh Penguins v Chicago Blackhawks Getty Images

    A few players have leapfrogged Steven Stamkos.

  5. Marchand rehabbing from offseason elbow surgery

    Sep 1, 2015, 3:35 PM EDT

    Brad Marchand Getty Images

    He played through the injury in 2014-15.

  6. Flyers bring back tough guy Rosehill on AHL deal

    Sep 1, 2015, 12:00 PM EDT

    Chris Thorburn #22 of the Winnipeg Jets fights with Jay Rosehill #37 of the Philadelphia Flyers during third period in a game between the Winnipeg Jets and the Philadelphia Flyers on April 6, 2013 at the MTS Centre in Winnipeg, Manitoba, Canada.
(April 5, 2013 - Source: Marianne Helm/Getty Images North America) Getty Images

    He spent all of last season with Lehigh Valley.

  7. Marcel Goc signs in German League

    Sep 1, 2015, 10:04 AM EDT

    Columbus Blue Jackets v St. Louis Blues Getty Images

    Veteran forward heads overseas after appearing in 600-plus NHL contests.

  8. Domi: I just want to make the Coyotes

    Sep 1, 2015, 9:00 AM EDT

    Max Domi Getty Images

    He’s got plenty of potential, but he doesn’t want to get ahead of himself.

  9. Lucic jokes about running through Rask ‘like I did (to) another goalie’

    Aug 31, 2015, 10:22 PM EDT

    Milan Lucic AP

    His first game against Boston is scheduled for Feb. 9.

  10. Success for McDavid isn’t purely a numbers game

    Aug 31, 2015, 9:00 PM EDT

    Connor McDavid AP

    The start of his rookie campaign is approaching.

  11. Hitch finds silver lining in Berglund injury

    Aug 31, 2015, 7:30 PM EDT

    Patrik Berglund Getty Images

    Who will take advantage of the opening?

  12. Neuvirth cites Voracek as his reason for joining Flyers

    Aug 31, 2015, 6:00 PM EDT

    New York Islanders v Washington Capitals - Game Five Getty Images

    The two have previously played together on the Czech national team.

  13. Hurricanes add Ray Whitney, three others to scouting staff

    Aug 31, 2015, 4:30 PM EDT

    Jeff Daniels Getty Images

    Former coach Jeff Daniels is also staying within the organization after being relieved of his AHL coaching duties.

  14. Poll: Will Seabrook re-sign?

    Aug 31, 2015, 2:12 PM EDT

    Brent Seabrook Getty Images

    You can expect this question to be asked throughout the year.

Top 10 NHL Player Searches
  1. P. Kessel (1889)
  2. P. Kane (1694)
  3. P. Datsyuk (1382)
  4. M. Richards (1376)
  5. N. Backstrom (1234)