The Miami Herald is reporting that the proposed sale of the Florida Panthers is running into issues.
Owner Alan Cohen wanted to complete the sale to Sports Properties, but the NHL recently balked because the buyer, a public company, does not have a primary investor with a substantial equity stake. Sports Properties hoped to buy the team through money raised from an initial public offering in 2008, but the league wants any new ownership group to have a go-to person who has the willingness and resources to finance expenses.
While this does not mean anything to the immediate future of the team, it may have some implications on the future of the franchise.
Could Panthers be the Next Coyotes?
Steve Simmons of the Toronto Sun speculates the Panthers situation could be as bad as the Phoenix situation in the near future.
It sounds like there is real trouble brewing in Sunrise, FL. The NHL is going to have to address this situation immediately or the Panthers could be the next team that finds itself in bankruptcy.
Read Article >Florida Panthers Sale Runs Into Trouble
