Quote:
Originally Posted by rage2
SSE (Panthers ownership group) has full control of the arena, much like the Flames today, so they make all the money from the events, concessions, etc. at the arena. Even accounting for the Panthers yearly loss, SSE still makes around $30m per year. SSE needs the panthers to continue this deal, without the money losing hockey team, they wouldn't be able to run events there.
The hilarious part in all this, is because the Panthers keep losing money, they convinced Broward County to give them an $86m bailout package to stay in Florida till 2028, but they can opt out of the lease extension 2023 if they can show a loss of over $100m between 2016 and 2022. All while SSE is profitable.
So yea, they aren't going anywhere for the next couple of years.
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To be clear - the county gave them the $86 million because they thought they'd end up owing more if the team left due to the original terrible deal the county signed (although this is probably justifying paying the money rather than an actual fact).
Also - the analysis showed the arena would be profitable with or without the Panthers according to other arena management firms.
So its more about being good for the current owner rather than being much if any better for the arena itself.
Quote:
The Consulting Team Attempted to Contact the Three Major National Arena Management Firms
AEG
Global Spectrum (as of June 2015, Global Spectrum is now known as Spectra)
SMG
The Consulting Team Spoke with Two Major National Operators of Arenas, Both with a Cursory Knowledge
of the BB&T Center, and a Strong Knowledge of the Regional Market
Both Operators Expressed an Interest in Operating the Arena Should the Opportunity Arise and Under the
Right Circumstances – We Would Expect All Three Would Ultimately be Interested
Both Operators Acknowledged
Miami Regional Market is Very Competitive
BB&T Center Should be Able to Generate an Operating Profit Even Without the Panthers
Managing and Keeping Fixed Costs Low will be Key Driver of Profitability
A Willingness to Explore Non-Traditional Operator/Owner Arrangements
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http://www.broward.org/Arena/Documen...rt10-13-15.pdf