Venue Detail
Florida Panthers
Revenues From Sports Venues Pro Facilities Report
January, 2010
Florida Panthers
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1 Panther Pkwy Sunrise, FL 33323 Phone: 954-835-7000 Fax: 954-835-7600 URL: www.flpanthers.com Owner: Bernie Kosar, Alan Cohen, Steve Cohen, David Epstein, Mike Maroone, Jordan Zimmerman, Elliot Hahn League: National Hockey League Eastern, Southeast Division
Venue
BankAtlantic Center, 2555 Panther Parkway, Sunrise, FL 33323 Owner: Broward County Managed by: SMG Facility Management Built: 1998 Capacity: 19,088 Permanent concession stands: 16 Concessionaire: Boston Culinary Group Suite caterer: Boston Culinary Group Soft drink: Coca Cola Beer: Multiple
Naming rights
Sold to: BankAtlantic Price: $27, 000,000 Term: 10 years Expires: 2014
Ticket prices
Season tickets range from $387 to $8,901 Single tickets range from $17.00 to $262.00 2007 average attendance: 15,370 2008 average attendance: 15,436 2009 average attendance: 17,038
Luxury Suites
Quantity: 74 Term: 3 to 10 years Price: $110,000 to $225,000 Seats: 14 to 16 Includes: Tickets, parking. Club tickets require a $150 annual membership. Party suite pricing depends upon catering packages purchased and range from $4,225 to $4,875. The party suites include 30 tickets.
Club seats
Quantity: 2,838 Term: 1 to 5 years Price: $5,375 to $9,000 Includes: Tickets for hockey only, restaurant access, in-seat wait staff.
Financing
The county funded the arena with $184 million in municipal bonds supported by a two percent hike in the Tourist Development Tax. The state sports team rebate program will also provide annual funds. The Panthers have guaranteed additional debt service money. The balance of the construction money came from team owner Wayne Huizenga. The team is responsible for $5.2 million of the annual debt payments. Pct. public: 60
The NHL Panthers moved into their new home in Sunrise, FL., in 1999 with a new name: The National Car Rental Center. The $184 million Venue sits next to Sawgrass Mills shopping center, a major draw and a facility that is being developed to take advantage of the crowds for the hockey games and concerts. The Venue was funded by a county bond issue.
The Venue got a name change in 2002 when National Car Rental encountered financial problems. The rights were resold to Office Depot and the Venue was renamed. The name changed again in 2005 when BankAtlantic purchased the rights.
The Venue includes a sports bar and grill that overlooks the ice and three food courts. It also has eight club boxes, each holding 64 people, that have access to a private buffet and bar behind each box. There is also a 210-car underground garage just for suite holders. The team has limited the numbers of signs to sponsors. Sponsors not only get signage, but also get suites and are part of other promotions, hence the high prices reflected.
The Panthers get naming rights revenue along with revenues from luxury suites and the first $14 million in arena earnings. Once operating expenses are paid, the team then gets 80 percent of the revenue with the rest going to the county.
Drive a Lexus to an event and you'll get preferred parking. The car company has sealed a sponsorship deal with the Venue that gives free premium parking to the first 200 Lexus drivers who show up.
The sponsorship also includes getting the Lexus name on the luxury suite level of the arena. The company believes the move will help it build a stronger relationship with those who drive its cars. Arena officials say the response among those who use the spaces is extremely positive. (Facilities, Financial, Ice Hockey, Professional Sports, Venue)