Panthers get informal money help from county

 

The Panthers and new owner Vincent Viola are seeking some help. (Getty Images)
The Panthers and new owner Vincent Viola are looking for some help. (Getty Photos)

 

 

It's no secret that the Florida Panthers battle to make money in South Florida, that's why the brand new owners of the workforce asked Broward County for some assist. Odds are wanting good that they're going to get it.

Attendance has lengthy been a difficulty in Florida as fans frequently see (and mock) during the seasons. It does not assist matters that the group hasn't been very aggressive at all in the past 12 seasons either. Because of this, the staff's funds have not been great both.

The staff is a part of Dawn Sports activities and Entertainment which leases and operates BB&T Heart, internet hosting a lot more than Panthers hockey. Still, the team is such a drain on the operation that even with the money the company brings in from concert events and the like, the group loses it just as fast. New co-owner Doug Cifu instructed the county that the group is dropping $one hundred,000.. per day.

"We'd like assist," he said.

The county seems prepared to offer it. From the Sun-Sentinel:

The county fee help, voiced informally Tuesday for the first time at a public workshop, ranged from tepid to enthusiastic. But the consensus was clear.

At the least six of the eight commissioners who will likely be voting on the deal support giving an undetermined quantity of extra taxes collected from tourists to the Panthers, which leases and operates the county's BB&T Middle in Sunrise. The workforce is asking for an extra $eighty million.

The ninth commissioner, Stacy Ritter, cannot vote on the proposal as a result of her husband is a lobbyist for the crew.

In accordance with the Sun-Sentinel, the lengthy-discussed idea of building a casino next to the sector in suburban Sunrise won't be included within the bundle. That doesn't mean it will not ultimately come to be, however. Simply not but.

As to the deal on the desk, there does not appear to be a lot worked out yet so far as the precise particulars, one commissioner mentioned he would like to see something that provides back to the county too, a real partnership. Not way back, Broward County helped get the Panthers a brand new video display above the ice that landed Florida the draft in 2015.

One facet of this request from the Panthers that makes it all of the more fascinating is the angle that the brand new primary owner, Vincent Viola, has mentioned he needs to make the Panthers a cap crew. So they're already losing six figures a day in cash however he wants to spend roughly $sixteen million more on payroll. It would not look good however the county commissioners do not appear to mind much.

The brand new possession group has repeatedly stated they haven't any intentions of transferring the workforce however maybe the county would not wish to name their bluff and danger it.

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Report: CEO buying Panthers for $250 million

panthers

SUNRISE, Fla. – Vincent Viola grew up in Brooklyn, graduated from West Point, is a former chairman of the New York Mercantile Exchange and after the Sept. 11 assaults founded a middle devoted to combating terrorism.

He is now the brand new proprietor of the Florida Panthers, a source confirmed to ESPN.com’s Pierre LeBrun.

Viola shall be launched in that role Friday after paying $250 million to buy the NHL franchise, said a person aware of the state of affairs, speaking to The Related Press on situation of anonymity as a result of the terms have not been made public. The Panthers scheduled a Friday news convention to debate possession however confirmed no different particulars.

“I know the parties are working very onerous on a transaction and they will try to consummate it as rapidly as attainable,” NHL commissioner Gary Bettman said earlier this week.

Viola will substitute Cliff Viner, a longtime Panthers fan who turned a co-normal partner of the crew in 2009 and took over as general accomplice, chairman and CEO the following yr.

Viola is the chairman and CEO of Virtu Financial, an electronic buying and selling firm with workplaces within the U.S., Singapore and Eire. He is shopping for a workforce that has been to the playoffs solely once since 2000 and completed with the fewest factors within the league last season.

Viola graduated from the United States Navy Academy in 1977, was a significant within the U.S. Military Reserves and is a graduate of New York Law School. He is additionally long been involved with philanthropic projects and is a previous winner of the Ellis Island Medal of Honor.

In 2003, he founded and helped fund the creation of the Combating Terrorism Center at West Level.

Completing the sale may have an immediate impact on the on-ice product, a minimum of in a single respect. The transfer clears the way for the staff to finish the signing of two-time Vezina Trophy winner Tim Thomas, a Stanley Cup-winning goaltender who took final season off before deciding that he wanted to return.

Thomas has been with the Panthers on a tryout deal, and it was believed that the team was waiting for the ownership change to be completed earlier than wrapping up his signing.

Information from ESPN.com’s Pierre LeBrun and The Associated Press was used on this report.

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