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Broward County approves up-to-19-year operating agreement with Florida Panthers; bonds, community commitments outlined
Summary
Broward County commissioners unanimously approved a new operating agreement with the Florida Panthers that sets a nine-year initial term with two county-held five-year options and requires the team to repay $51.5 million in outstanding bonds and maintain at least $1 million a year in community investment.
Broward County commissioners unanimously approved a new operating agreement with the Florida Panthers on Feb. 11 that establishes a nine-year operating term and two unilateral five-year options at the county’s discretion, creating a possible total of up to 19 years.
The agreement, discussed at length during the meeting, calls for the Panthers organization to fully repay $51.5 million in outstanding bonds associated with the arena and to continue investing in the local community at a minimum of $1 million per year. The…
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