Florida Panthers, Broward County agree in principle to long-term lease extension
A notable vote has been made in Sunrise. On Tuesday, the Florida Panthers announced that the Broward County Commission voted unanimously to extend the lease of Amerant Bank Arena.
The 9-0 vote from the board of commissioners to add an additional five years in an amended nine-year agreement means the Panthers will stay in Sunrise through at least 2033. According to a news release, Broward County has the option to retain the Panthers for two more five-year terms, increasing the total lease to 19 years. The Panthers and county are committed to each other through the 2042-43 season.
“We are thrilled to extend what has been an incomparable long-term partnership with Broward County,” Panthers Chairman, Owner and Governor Vincent J. Viola said. “The county and our team share a deep commitment to investing in a bright future for our community.”
Per the agreement, the Panthers have paid Broward County $51.5 million upfront to be used for arena needs and debt service. The county will pay the Panthers $25 million annually to be used for repairs, operations, maintenance and capital expenditures for Amerant Bank Arena.
The Panthers have been in Surnise since moving from Miami in 1998. While the name of the building they play in has changed, the team has been a constant in Broward County for the past 26 years. They have helped grow the game around the area by expanding their facilities into the community. They practice at the FTL War Memorial in Fort Lauderdale, the home of the Baptist Health IcePlex, and also operate the Panthers IceDen in Coral Springs.
“Since acquiring the Panthers in 2013,” NHL commissioner Gary Bettman explained. “The Viola family has brought tremendous stability, growth and excitement to the Florida Panthers organization. Their contributions to the local community and strong public-private partnership with Broward County have moved this team forward with success. We’re thrilled to see hockey thriving in South Florida and that their future long-term growth is secured. Perhaps most of all, we are grateful to and thankful for our fans.”
The Panthers also have the rights to propose and submit plans for developing property around the arena, per Broward County’s approval.