Aug 17, 2014, 10:42 AM EST
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.
Dec 19, 2014, 1:33 AM EST
These things happen.
Dec 19, 2014, 1:10 AM EST
But they did score more than two goals in a game for first time since Nov. 28.
Dec 19, 2014, 12:35 AM EST
Because everyone likes a snack before they line up for a faceoff, right?
Dec 19, 2014, 12:31 AM EST
Last shift came early in the second period.
Video: Pacioretty taken to hospital, reportedly no hearing expected for Stoner after questionable hit
Dec 18, 2014, 11:49 PM EST
Montreal lost this game, as well.
Dec 18, 2014, 11:29 PM EST
This was a back-and-forth contest.
Dec 18, 2014, 10:52 PM EST
And Roberto Luongo’s victory ties him for 12th on the all-time list.
Dec 18, 2014, 10:29 PM EST
Dec 18, 2014, 10:15 PM EST
Left the game after the first period.
Dec 18, 2014, 9:26 PM EST
Has played five games since his return.
Dec 18, 2014, 8:51 PM EST
Dec 18, 2014, 7:44 PM EST
These two have a bit of a history.
Dec 18, 2014, 6:39 PM EST
He’ll be in the lineup when Pittsburgh takes on the Avs at home.
Dec 18, 2014, 6:33 PM EST
When Colorado takes on the Penguins at Consol.
Dec 18, 2014, 6:07 PM EST
Journeyman tough guy is back playing in North America.
Dec 18, 2014, 5:30 PM EST
So says Sharks coach Todd McLellan, who witnessed James Neal’s cannonball on Saturday.
Dec 18, 2014, 5:05 PM EST
The Kings have lost five of their last six.
Dec 18, 2014, 4:12 PM EST
For a sixth-round pick.
Dec 18, 2014, 3:58 PM EST
“This is our adversity,” says Paul Maurice.
Dec 18, 2014, 2:57 PM EST
The Minnesota Wild have to be frustrated.
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