Panther's arena had net income of ~$90mm from 1998-2008
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12-10-2012, 03:10 AM
Join Date: Aug 2005
Originally Posted by
Pretty sure this was the same report as discussed earlier.
A few things - first, they only managed to make this much because they have one hell of a sweat-heart deal.
Second, the amount the arena made in profits was funneled back into Panthers. However, that may have been some accounting trickery, since by doing this, they reported no net profit, which resulted in not having to pay the county any kind of profit-sharing.
Bottom line is that maybe the Parent company is doing alright, and maybe a key to this is having the Panthers as a tenant. Nevertheless, the part where it breaks down is having to rely on a sweet-heart municipal deal.
I don't see how this could be considered a sustainable business model. Hockey + other events should be profitable to allow for private financing of arenas.
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