Florida Panthers Renew Operating Agreement, Ensuring Presence in Broward County Through 2033 and Beyond

Tuesday, September 17th, 2024

The Florida Panthers, current Stanley Cup champions, have extended their agreement with Broward County for an additional five years, ensuring their presence in the area until at least 2033. The team committed to paying $51.5 million to clear the remaining debt on the county-owned arena.

This renewed agreement includes two optional five-year extensions for the county. If these options are not utilized, the county will have to reimburse some or all of the $51.5 million to the Panthers.

Broward County will allocate $25 million annually for arena-related capital expenses and operating costs. In exchange, the team will showcase Broward County advertisements on player helmets, engage local vendors, and contribute $11.7 million to local initiatives and youth hockey over the next nine years.

The Panthers have recently upgraded the War Memorial in Fort Lauderdale, converting it into their practice facility with additional retail and dining spaces. The cost of these enhancements has surpassed the initial $65 million budget, but the exact figures remain undisclosed.

Last season, the Panthers saw a significant increase in attendance, drawing over 1 million fans to games, including the playoffs. Previously struggling with low attendance and relocation speculation, the team now places ninth in average regular-season attendance among NHL teams.

County commissioner Michael Udine commended the strong bond between the Panthers and the Broward community, highlighting the substantial growth in attendance and the team's positive regional influence.

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