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SBD/January 13, 2014/Franchises
NHL Panthers Ready To Raise Payroll At Deadline, Spend To Salary Cap
Published January 13, 2014
ON THE PROWL: In Ft. Lauderdale, Michael Mayo wrote of the Panthers' proposal to restructure their contract with Broward County under the header, "Panthers Come Knocking For More Public Money." The Panthers are "making a play at a money pile that's been bigger than anticipated." Panthers President Michael Yormark said that the team's "current financial path is 'unsustainable,'" with losses of $20M a year. Mayo: "Considering the team has reaped 99.7 percent of the arena's profits in its original lopsided deal with the county, I'd say that's a pretty stunning indictment of hockey's economics and this team's management." The Panthers "haven't exactly lit up this town with success or excitement." They are "kidding themselves if they think people will readily go for this" (South Florida SUN-SENTINEL, 1/12).