County Commission Holds BB&T Center Arena Workshop
Broward County Commissioners held a workshop on February 18, 2014, to consider a proposal by Sunrise Sports & Entertainment, owners of the Florida Panthers hockey franchise and the Arena Operating Company, to amend the scope of their existing contract for operations of the County-owned arena.
The new owners of the franchise, citing annual loses up to $25 million, are seeking to renegotiate their agreements with Broward County to improve the competitiveness of the hockey team.
While no property tax dollars are involved in the request or in operating the arena, it is important for taxpayers to understand what is at stake with this proposal. Broward County owns the BB&T Center, and is responsible for payment of outstanding bonds issued to finance its construction. As the BB&T Center's primary tenants, the Arena Operating Company and the Panthers pay to use the building and pay all operating and maintenance expenses. The County Commission will make its decision by early summer, after carefully considering all factors to create the best possible outcome for the County and the community.
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