Viola set to acquire Panthers for $ 250M
New York businessman Vincent Viola will attempt to transfer his winning touch on Wall Street to the NHL after he takes the reins as owner of the Florida Panthers on Friday.
Viola, former chairman of the New York Mercantile Exchange, is purchasing the Panthers for $ 250 million in a deal that includes the operation of the BB& T Center, a source familiar with the transaction confirmed. A 10 a. m. news conference is scheduled at the arena.
The impact of the ownership change has already resonated with the signing Thursday of veteran goalie Tim Thomas to a one- year contract.
The two- time Vezina Trophy winner has been working with the Panthers on a tryout basis. Panthers coach Kevin Dineen indicated earlier that he hadn’t used Thomas in an exhibition game because his contract and the ownership deal hadn’t been finalized.
Viola, a Wall Street power broker and former minority owner of the New Jersey Nets before
theNBAfranchisemoved to Brooklyn, is buying out the group headed by South Florida businessman Cliff Viner that took ownership in 2009.
Viner gained control as general partner of the Panthers and the arena operation in July 2010, with minority partners including Stu Siegel, Alan Cohenandoriginalowner H. WayneHuizenga.
“I’m very grateful for him bringing me in here, and I think Cliff leaves the franchise much better than he found it, on solid ground and heading in the right direction,” Dineen said Thursday.
“[ Friday’s] a new day but you always acknowledge where you’ve been and where you are now. [ Friday] will be about where we’re going in the future.”
Although ownership of the arena will remain with Broward County, in addition to the teamViola will gain control of Sunrise Sports & EntertainmentandtheArenaOperation Company that oversees all events. The team’s lease runs through 2028.
Viola, chairman and CEO of Virtu Financial, has launched a number of successful businesses. He graduated from West Point, served in the 101st Airborne Division and was instrumental in founding the Combating Terrorism Center following the attacks of Sept. 11, 2001.
His next challenge is to inject vitality into a franchise that has struggled on the ice and at the gate. The impending purchase has brought indication that a payroll boost is coming with the arrival of Thomas, who helped the Boston Bruins win the Stanley Cup before sitting out last season.
Forward Brad Boyes, who had 35 points in 48 games for the Islanders last season, and veteran defenseman Tom Gilbert were also brought in on a tryout basis and may be signed to complement the
“New blood, new energy. I don’t think it could hurt. You come in and you’re spending that much money you want to have success, and the players in the locker room want that, too.”
Brian Campbell,
Panthers defenseman
Panthers’ core of young talent.
Defenseman Brian Campbell, whose inherited $ 56 million contract was approved by Viner, was appreciative of the outgoing owner and excited about what the changemay foretell.
“I’m excited because he’s already put a little stepping- stone into it,” Campbell said referring to Thomas’ decision to come here based on the incoming owner.
“New blood, new energy. I don’t think it could hurt. You come in and you’re spending that much money you want to have success, and the players in the locker room want that, too.”
Viola will become sole owner. While his net worth is listed as $ 35 million by CelebrityNetWorth. com, the source said that report isway off, that the new owner has assets “north of a billion.”
The Pantherswere valued at $ 170 million last year by Forbes magazine, which is the price the Phoenix Coyotes sold for recently. The New Jersey Devils subsequently sold for a reported $ 300 million, including operating rights to the Prudential Center.