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Panthers seek debt relief from Broward County

Florida PanthersThe owners of the NHL’s Florida Panthers are seeking to renegotiate their lease on BankAtlantic Center to lower yearly payments and free up cash for operations.

The Panthers are looking to decrease their yearly payments by $2.5 million annually through 2016, with a $1 million raise in 2017. The lease would also be extended by a year. Overall, the lease restructuring would cost the Panthers some additional $23 million over the life of the lease, but it would push the costs farther out.

Broward County seems inclined to move ahead with the proposal; last night officials there directed staff to work out the specific language of a deal with Sunrise Sports.

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