Florida Panthers and Broward County Extend Arena Operating Agreement

The Stanley Cup champion Florida Panthers are extending an operating agreement with the Broward County Commission for five more years, ensuring that the team remains in the market through 2033 and likely well beyond.

Broward County will have the option to retain the Panthers for two additional five-year terms for a total of 19 years, which could tie the team to Broward County until 2043. The Panthers operate multiple facilities across Broward County, including Amerant Bank Arena in Sunrise, Panthers IceDen in Coral Springs and the recently opened FTL War Memorial in downtown Fort Lauderdale.

The Associated Press reported that County commissioners unanimously approved the revised terms, which include the Panthers giving $51.5 million to eliminate remaining debt on the county-owned arena where the team plays. If the two five-year options are not picked up, the county will have to return some or all of the $51.5 million debt payment to the Panthers. Through this amended agreement, for a period of four years, the Panthers also gain exclusive rights to propose and submit a development plan for the property surrounding Amerant Bank Arena in Sunrise for Broward County’s approval.

“We are thrilled to extend what has been an incomparable long-term partnership with Broward County,” said Vincent Viola, Panthers chairman, owner and governor. “The county and our team share a deep commitment to investing in a bright future for our community. Our strong partnerships — first and foremost with Broward County, as well as with the cities of Sunrise, Coral Springs and Fort Lauderdale — exemplify the way in which successful public-private partnerships can foster economic growth and cultural vibrancy.”

Broward County will pay the Panthers $25 million annually through the tourism development tax, paid predominately by visitors to Broward County, which will be used for capital expenditures, repairs, operations and maintenance of the 26-year-old Amerant Bank Arena. The team has agreed to have Broward County advertising on player helmets, to continue using local businesses as vendors whenever possible and to donate at least $11.7 million over the next nine years toward local causes and promoting youth hockey.

“Since acquiring the Panthers in 2013, the Viola family has brought tremendous stability, growth and excitement to the Florida Panthers organization,” said NHL Commissioner Gary Bettman. “Their contributions to the local community and strong public-private partnership with Broward County have moved this team forward with success. We’re thrilled to see hockey thriving in South Florida and that their future long-term growth is secured. Perhaps most of all, we are grateful to and thankful for our fans.”