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 22, 2014, 6:53 PM EDT
“We’ve got to wait to see how it heals.”
Sep 22, 2014, 5:53 PM EDT
He’s been unable to skate since camp started.
Sep 22, 2014, 5:11 PM EDT
“You grow up playing hockey and you’re thinking ‘oh, I just want to play the game, it’s so much fun.’ Then you realize it is your job.”
Sep 22, 2014, 4:49 PM EDT
But it “shouldn’t be a long-term, lingering thing.”
Sep 22, 2014, 3:41 PM EDT
Randy Carlyle is making some changes to the way Toronto defends.
Sep 22, 2014, 2:20 PM EDT
Currently there are 16 teams in the East and 14 in the West.
Sep 22, 2014, 2:02 PM EDT
“I think it’s been terribly mishandled by the player and the agent.”
Sep 22, 2014, 1:30 PM EDT
Meanwhile, Kurt Overhardt has a warning for the frustrated Blue Jackets management.
Sep 22, 2014, 1:15 PM EDT
“We know he has a great shot and that’s a bonus for him.”
Sep 22, 2014, 12:11 PM EDT
But Peter Karmanos wants to retain control of the team.
Sep 22, 2014, 11:39 AM EDT
“It’s nice having a little more freedom, in that regard, especially for the creativity that’s on our team,” says Beau Bennett.
Sep 22, 2014, 10:45 AM EDT
“I think what we’re going to do as a team will be right up his alley.”
Sep 22, 2014, 10:02 AM EDT
He’ll get tougher assignments with Kimmo Timonen sidelined indefinitely.
Sep 22, 2014, 8:58 AM EDT
Colorado is counting on the duo to be very effective this season.
Sep 22, 2014, 8:00 AM EDT
Monday’s collection of links.
Sep 21, 2014, 11:05 PM EDT
Head coach Todd McLellan thinks he can play, at least.
Sep 21, 2014, 10:10 PM EDT
“But sometimes you have to lose what you have to realize what you had.”
Sep 21, 2014, 9:40 PM EDT
Players nursing bumps and bruises as camps wrap.
Sep 21, 2014, 9:00 PM EDT
“In a perfect world, it would be three.”
Sep 21, 2014, 7:31 PM EDT
“He’s thinking usually two or three plays ahead.”
- Bettman: NHL won’t expand ‘just to fulfill somebody’s notion of symmetry 7
- Report: Johansen lowers demands, but not low enough 30
- Injuries piling up as preseason schedule begins 11
- Report: Fedorov denies contract offer was made to Johansen 8
- Report: Johansen has gotten no shortage of KHL offers 43
- Update: Drouin out with upper body injury, not expected to miss preseason 1
- Report: NHL officials to participate in preseason without new CBA 1
- Evander Kane: I know I can score 50 goals 16
- ‘C’-less Thornton comes out swing against Wilson’s ‘tomorrow team’ talk 19
- Joe Sakic’s now general manager in name too 6
- Heeeeeere’s Johnny! Davidson shreds Johansen’s agent for ‘baffling, nonsensical’ contract demands (65)
- Jackets reveal Johansen offers — including an eight year, $46M deal (55)
- No icing on the PK? The USHL will see how that looks (43)
- Report: Johansen has gotten no shortage of KHL offers (43)
- Just how damaging are heated negotiations between Jackets, RFA Johansen? (38)