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Fort Lauderdale, FL - The Florida Panthers have extended their operating agreement with Broward County for five years, ensuring the team will remain in the market through the 2033 season.
In a unanimous vote, county commissioners approved the revised terms of the agreement, which include a significant payment from the Panthers to eliminate existing debt on the county-owned arena.
The deal also includes two five-year options for further extension, providing additional security for the team's future in Broward County.
As part of the agreement, the Panthers will contribute $51.5 million to eliminate the remaining debt on the arena.
In return, the county will invest $25 million annually for capital expenditures and operating expenses.
Additionally, the team has committed to several community initiatives, including donating to local causes, promoting youth hockey, and utilizing local businesses for vendors.
The Panthers' recent success, both on and off the ice, has played a significant role in solidifying their position within the community.
The team's strong attendance figures and commitment to local initiatives have contributed to a positive relationship with Broward County residents.
With this new agreement in place, the Florida Panthers are poised for continued success and a long-term future in Broward County.