Report: Panthers seek $7.7M loan from Broward County
Via the Sun-Sentinel's Brittany Wallman:
"In a letter from the company that owns the Florida Panthers, Sunrise Sports and Entertainment, President Michael Yormark told the county mayor and commissioners that he’d seek the loan to pay for improvements to the center ice seating section and the executive suites."
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7 months ago
Donny Rivette
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Politics aside, I wonder if “improvements to the center ice seating section” translates to new scoreboard.
Steve Diaz
Twitter - @sdiaz6215
Not this year, I’m guessing.
Litter Box Cats - Your tarp-free Florida Panthers Colossus
by Donny Rivette on Nov 6, 2011 12:11 AM EDT up reply actions
CLUB RED
Try saying it like it is. We’d like a loan to create a unique experience for the Corp big wigs to flaunt to their elite clientele and for the ultra wealthy of the tri-county area so they don’t have to rub elbows with the working class fans at hockey games or concerts. Its all about priorities. Exactly how many jobs does MY think this will create? How long will it take to pay back the county this money? I’d rather see this money put to good use- paying teachers, police officers, improving areas that saw severe flooding over our 3 days of rain. I could go on but you all know how I feel.
I hereby predict Captain Mike Weaver #43 will score 6G 20A -RCR 0G4A 11/1
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by RPC on Nov 6, 2011 7:14 AM EST reply actions 1 recs
This is all I saw when I read this article...
Yormark asks the 99% to fund the 1%s newest exclusive club
Such a joke, when I finally start to not mind the guy he pulls more stupid “stuff”.. we need to follow in TB’s footsteps when it comes to him..
by Rob PKane McMahon on Nov 6, 2011 7:26 AM EST up reply actions 1 recs
Will Cliff Viner riegn this guy in soon?
There are so many things that could be done to make things better for the real fans. You know who they are. The people that have stuck by this team for all these years. This is what we get. Turning this facillity into a venue that caters chiefly to children in it’s presentation philosophy. Club Red catering to those devoted wealthy fans who don’t want to sit in a catered private suite. A COO who starts renovation plans without the money so it seems. Has upped the in game advertising to a level to which the only info on the scoreboard is giant IKEA logos. No appearance that BAC even promotes hockey like other venues including Tampa Bay. And who can deny the highest priced food in the NHL. $6.50 hotdogs! Rat pack Tiger suits to somehow emulate Panthers? An announcer that still sucks. Remakes of standard areena music with fill ins for the fans part of the music. Listen closely next time.
chicken tenders and french fries went from 8.50 to 12$ I have yet to eat at the arena all of preseason and reg season thus far.
where’s the extra 3.50 from that going Yormark? if anyone is even paying it..
by Rob PKane McMahon on Nov 6, 2011 10:03 AM EST up reply actions 1 recs
So I guess that’s why ticket prices have gone up.. If this team was well on its way to the SCF I’d understand it.. but not 12 games into a season were still uncertain of.
My only explanation as to how he get’s so many sponsors would be either that he lies to the companies he gets the money from, or he chooses to only ‘invite’ them to games in which he knows there will be a large attendance (opening night, Chicago/Pitt/MTL games.. etc) Guys a great BSer I’ll give him that. They clearly aren’t sponsoring the team because of the media coverage it gets.
by Rob PKane McMahon on Nov 6, 2011 10:22 AM EST up reply actions
All I can say is look at Tampa a few years back when Yormark did the same thing. Look where they ended up and the measures that the new ownership took to put the regular fan back into the building.
Btw, the renovations over there are pretty awesome, and cater to all of the fans. The new organ, bars and viewing areas are great – you can hang out, eat, drink and watch the game directly.
Seeing Red since 1994.
That's equal to 1.08 Campbells, right?
The seats won’t be assist machines though.
Vinik didn’t need a loan to revamp Times Palace. Just sayin’… ;-)
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Raw Charge.
by John Fontana on Nov 6, 2011 11:05 AM EST reply actions 1 recs
To be honest with you John, I am really hoping that Broward County shuts down this request from Yormark. I find it pretty reprehensible that he’s trying to ask for public funding to create an area of the arena in which only about 1-2% of the people who come to games can afford to sit.
Hockey is a business, only we fans love it as a game.
That’s because he just bought the team. These guys have been losing money on the team for years (yes, yes, I know they make it elsewhere).
"We don't need the designated goon. Those fights aren't even fun to watch." -Mike Milbury
Litter Box Cats - Your Panthers Colossus.
For that $$$ I’d hope so…
Litter Box Cats - Your tarp-free Florida Panthers Colossus
by Donny Rivette on Nov 6, 2011 12:39 PM EST up reply actions
While everyone is upset about Club Red, and rightfully so, it’s important to remember that they’re looking for a loan, not a handout. They’ve borrowed money from the county before and to the best of my knowledge, it has always been paid back.
"We don't need the designated goon. Those fights aren't even fun to watch." -Mike Milbury
Litter Box Cats - Your Panthers Colossus.
True, they’ve never missed a payment – but they have had the county essentially refinance the debt by reducing their payments in return for extending their lease slightly. So, whatever they’ve lost to recession, they’ve regained in a Broward County handout. At the time, the line was they were taking the difference in payments and applying it to upgrades to the arena – new scoreboard, etc. Guess not.
Plain and simple, this really isn’t for the county to fund. If Yormark wants to create his dream of a super-wealthy playpen at center-ice, then it needs to be done through a private lender. God knows interest rates are low enough. Maybe BB&T would help them out – they just don’t want two things, first to open their books and second, they want the advantage of giving rich people more tax-exempt securities to buy so that they can avoid income taxes.
We’ve covered this before, but the Panthers have never given the county a freakin penny, like they’re supposed to, after the first season the Arena opened. They were supposed to repay the county with 20% of the profits if the arena earned more than $14 million, and its never happened. One of the busiest arenas in North America and unable to make a $14 million profit year after year?
They’re thieves. Plain and simple.
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