Florida Panthers sale "Closes In" after month of negotiation

by Donny Rivette on Jun 1, 2009 11:55 PM EDT Comment 2 comments

"An agreement" has been reached allowing the sale of the Florida Panthers - and perhaps more importantly, Sunrise Sports & Entertainment, who manages the BankAtlantic Center in Sunrise, Florida - to proceed, according to the Toronto Globe and Mail's Allan Maki. The deal evidently includes the hockey organization, management company, and parcels of land surrounding the arena property.

A $240M offer by Sports Properties Acquisition Corporation has reportedly been accepted by Panthers ownership, which includes pharmaceutical entrepreneur and managing partner Alan Cohen and former NFL quarterback Bernie Kosar, who himself has been in financial straits following a series of failed business ventures.

No talk whatsoever has been made public of a possible (read: extraordinarily unlikely) relocation. Keep in mind, the BankAtlantic Center and surrounding property is far more valuable with the hockey club in place.

How 'bout that...woke up today with no GM, may wake up tomorrow under new ownership. How's that for being born under a bad sign?

No fear, folks. This one's a straight-up business deal designed to keep the club right where they are. It's all about the building.

Hopefully.

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what do we know about this new ownership group? are they willing to run the team like a team should be run? do they want to spend the money? do they care? whatever you can find out, inform us!!! thanks

by alterego6487 on Jun 2, 2009 8:19 PM EDT reply actions

Got a post coming up on just this subject in the next day or so. Looks like it’s going to happen. And there’s talk that Cohen wants to remain with the club in some fashion.

You’re going to hear names such as Mario Cuomo and Hank Aaron a lot (as well as recently deceased former US Senator Jack Kemp), being that they are two principals in the conglomerate.

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by Donny Rivette on Jun 2, 2009 9:23 PM EDT up reply actions

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