The Panthers also have exclusive rights to develop land surrounding Amerant Bank Arena
The Florida Panthers are going to be sticking around South Florida for a while.
On Monday, the team announced it had agreed in principle to an extension of its partnership with Broward County that will run through at least 2033.
The extension comes with an option for the county to extend two additional five-year terms that would keep the Panthers somewhere in Broward, but not necessarily Amerant Bank Arena, through 2043.
The current lease was set to expire in June of 2028.
“We are thrilled to extend what has been an incomparable long-term partnership with Broward County," said Panthers Owner Vinny Viola in a statement. "The county and our team share a deep commitment to investing in a bright future for our community. Our strong partnerships- first and foremost with Broward County, as well as with the cities of Sunrise, Coral Springs and Fort Lauderdale- exemplify the way in which successful public-private partnerships can foster economic growth and cultural vibrancy.”
Additionally, the new agreement comes with another potential perk for the Panthers.
They will receive a period of four years in which the team has exclusive rights to propose and submit development plans for the spanning parking lots that surround the substantial property Amerant Bank Arena sits on.
The Panthers had previously forfeited those rights in a previous negotiation with the county, but now has a chance to potentially build up the area around the arena and create attentional streams of revenue.
Monday, a term sheet outlining all this information was approved unanimously by the Broward County Commission on a vote of 9-0.
The extension still must be voted on for final approval by the Broward County Board of County Commissioners.
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