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Post by mikecubs on Oct 30, 2015 16:22:51 GMT -6
Florida Panthers Owners $99 Million In RedA report by Stifel, Nicolous and Barrett Sports Group says the owners of the NHL’s Florida Panthers have had to inject $99 million into the team to cover losses for the team and BB&T BBT +0.00% Center. That’s a lot of dough when you consider that it was just two years ago a group led by Vincent Viola bought the Panthers, the arena’s operating rights and some nearby land for $160 million. Even the league’s recent Canadian television deal and new digital media agreement with MLBAM will not be enough to erase the team’s losses. That is why the Panthers are looking for an $86 million bailout from Broward County. The report makes the case for a taxpayer bailout. Its math shows the county would be $6 million worse off if the Panthers would leave based on the net difference between revenue and expenses for BB&T Center. But that is the same argument those in favor of giving the Arizona Coyotes a bailout made. And we know how that’s worked out thus far.www.forbes.com/sites/mikeozanian/2015/10/30/florida-panthers-owners-99-million-in-red/?utm_campaign=yahootix&partner=yahootix
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Post by Bruinsfan on Dec 4, 2015 16:42:38 GMT -6
excuse me while i vomit.
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Post by mikecubs on Dec 4, 2015 16:45:50 GMT -6
Why are you vomiting? I thought we were suppose to go along with any bad market keeping a team in any sport as long as the politicians were dumb enough to pay up.
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Post by mikecubs on Dec 4, 2015 16:46:45 GMT -6
The terrible problem with Broward County is it's much bigger than Glendale too so they have a bigger tax base/more $$$ to blow on stupidity like this unlike Glendale.
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Post by Bruinsfan on Dec 4, 2015 16:49:34 GMT -6
Why are you vomiting? I thought we were suppose to go along with any bad market keeping a team in any sport as long as the politicians were dumb enough to pay up. quit holding my hate for Leave LA Stan over me. and i mean that as Stan is partly responsible for the team leaving LA in the first place. |
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Post by mikecubs on Dec 4, 2015 16:59:22 GMT -6
Don't blame you for hating Stan the least bit, I can't post what I think of him on here on I will be BANNED permanently but it's still NOT worth keeping a bad market. Stan will get his real "punishment" in about 10-20 years when he dies and where he gets sent after that(hit the place he is going is VERY VERY hot)!
Every bad market will use the excuse my owner is EVIL like Stan thus he must be punished by making him stay. I can just hear Todd now! "Anthony Leblanc is evil and stupid. He should be punished by making him own the Coyotes in Glendale forever thus I am FORCED to have the right to dirt cheap tickets from now until eternity."
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Post by mikecubs on Dec 7, 2015 10:26:56 GMT -6
Broward County to vote tomorrow on giving Panthers $86m just for the hell of itPosted on December 7, 2015 by Neil deMause The Broward County Commission is set to vote tomorrow on the Florida Panthers‘ request for $86 million in tax subsidies, which according to the South Florida Sun-Sentinel could determine the “hockey team’s future in South Florida.” What’s that? Don’t the Panthers have a lease that requires they stay in the arena that Broward County built for them in 1998? Sure they do, and it runs through 2028, but local officials have other worries: The team has not threatened to leave South Florida, and is still obligated to fulfill its contract with the county, as-is. But County Attorney Joni Armstrong Coffey said at the October workshop that if the team were to declare bankruptcy, the county “wouldn’t necessarily be able to enforce” the contract. Well, sure. Also if the entire Panthers team were swallowed up by a micro black hole. It’s hard to picture Panthers owner Vincent Viola really declaring bankruptcy, though, especially since he likely makes more money on operating the arena than he loses on the hockey team. More to the point, the county won’t be able to better enforce the contract even if it gives Viola his $86 million — in fact, the new deal would give Viola an out clause after 2023. Which isn’t to say he’d use it, but does anyone think that he wouldn’t be back in another eight years to look for more subsidies? I mean, Viola may have spent $250 million on a money-losing hockey franchise just two years ago, but he’s not an idiot. www.fieldofschemes.com/2015/12/07/10220/broward-county-to-vote-tomorrow-on-giving-panthers-86m-just-for-the-hell-of-it/#respond
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wolf357
Alternate Captain "A"
Posts: 557
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Post by wolf357 on Dec 8, 2015 14:58:31 GMT -6
Anyone actually paying attention to this in Florida?
I have absolutely 100% faith it will pass...just the way it goes...
Any kid in a Panthers Jersey making a sad plea to save his team?
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Post by wolfmannick on Dec 8, 2015 16:00:55 GMT -6
Does anyone actually think this will get shot down? It will obviously pass I havent even heard anyone speak out against it.
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Post by sting on Dec 8, 2015 17:35:47 GMT -6
One of the councillor's husband works for the Panthers as a lobbyist.
She is not able to vote but you can bet she will have influence.
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Post by mikecubs on Dec 8, 2015 17:39:27 GMT -6
Does anyone actually think this will get shot down? It will obviously pass I havent even heard anyone speak out against it. One of the posters on HF boards said it might but if it does the team will come back and just ask for a bit less. He says he has inside info the team will come away with $$$. |
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Post by mikecubs on Dec 8, 2015 17:41:25 GMT -6
Anyone actually paying attention to this in Florida? I have absolutely 100% faith it will pass...just the way it goes... Any kid in a Panthers Jersey making a sad plea to save his team? I have 100% faith this will pass too. Said this a billion times, a suburban sunbelt and rustbelts are 100% locks to always shovel more $$$ to a crappy sports team to save it. The only hope a rustbelt or sun belt doesn't give more is the money totally runs out like in Glendale. |
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Post by mikecubs on Dec 8, 2015 18:25:06 GMT -6
The vote has passed.  The Panthers were never leaving anyways since overall the operation makes money with the concerts unlike Glendale. The county just gave away the $86M for no reason. Broward Politics ✔ @browardpolitics Item passes 5-3 / Britt |
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Post by mikecubs on Dec 9, 2015 13:19:40 GMT -6
Broward Politics ✔ @browardpolitics According to Florida Panthers, their losses (EBITDA) were $36 m last year, $27 m year before, $17 m before that, $26 million in 2011-12./BW Anthony LeBlanc ✔ @anthonydleblanc Very happy for @flapanthers Great org including our old friend chris_Wojcik I've been to many games at BB&T, looking forward to many more |
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Post by Bruinsfan on Dec 9, 2015 18:04:25 GMT -6
86 million just becasue they asked, they straight up said we arent moving...and they did it so they wouldnt move and gave them an early out clause in 8 years, earlier than before the deal.
man these local governments are dumb.
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The Panthers were never leaving anyways since overall the operation makes money with the concerts unlike Glendale. The county just gave away the $86M for no reason.