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HUIZENGA SAYS PANTHERS LIKELY TO STAY IN SOUTH FLORIDA
Published March 13, 1996
South FL sports mogul Wayne Huizenga expects the Panthers to stay in the area and is weighing three different offers from investors who will not move the club, according to the MIAMI HERALD. Local businessmen Bruce Frey and Bud Paxson, Dallas businessman John Spano and an undisclosed group are all interested in the team. The Frey/Paxson group has made an offer that the HERALD reports is "an all-cash" deal with "no unusual restrictions" -- but Huizenga "did not speak well" of their bid. Broward County officials trying to negotiate an arena lease with the team cannot begin until the Panthers' ownership situation is settled. Also, there could be potential problems with Broward's offers to the Heat and Panthers. The county's preliminary agreement with the NBA club is different than the one negotiated with NHL Commissioner Gary Bettman. The Heat's letter of intent calls for equal arena revenue sharing, while Bettman negotiated an additional $2M for the Panthers based on a state tax break (Jackson & Rafinski, MIAMI HERALD, 3/12).