Kukla's Korner Hockey
Panthers Could Be Going ‘Public’
by Paul on 04/27/09 at 08:18 AM ET
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from Daniel Kaplan of SportsBusiness Journal,
The Florida Panthers are in negotiations to merge the team, its arena management company and rights to the real estate surrounding BankAtlantic Center with Sports Properties Acquisition Corp., a public-stock company formed last year, sources said.
The potential deal values the assets at $230 million, including debt, with the plum in the talks a planned mixed-use development around the south Florida arena, the sources said. The negotiations have been taking place over the last several weeks, the sources said….
As part of the prospective deal, the sources said, the Panthers’ owners would receive stock in Sports Properties, making the hockey team a unit of the public company. Ironically, the team under former owner Wayne Huizenga was also publicly held before he sold it in 2001 to current general partner Alan Cohen for $101 million.
Other than the quasi-public Green Bay Packers, no team among the big four sports leagues is public, though some are part of larger public companies.
Filed in: NHL Teams, Florida Panthers | KK Hockey | Permalink
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