Panthers Financial Situation
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07-11-2013, 07:46 AM
Join Date: Apr 2008
Location: fort lauderdale
Originally Posted by
It's pretty well known already.
The Florida Panthers lose $15-20 million a season.
Sunrise Sports & Entertainment does not lose $15-20 mil a season.
Yes, the revenues from concerts etc. more than offsets the losses from the Panthers. We know this because SSE has had to submit its financial statements to Broward county the past two years in order to get its financing approved for Club Red and the new Scoreboard.
Also, sports teams are able to obtain tax benefits, including accelerated depreciation. That is why "losses" need to be taken with a grain of salt as well.
My own belief, based on the financial statements given to Broward County, the cuts in payroll, the increase in ticket prices etc that the SSE should again make a profit in 2013 and beyond. It is also my belief that SSE continues to explore a gaming play while exploring sale options at the right price.
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