Who Owns Who? Zoom on NHL owners and their portfolios: Florida Panthers
The Who Owns Who series continues focusing on the owner of the Eastern Conference finalist of the Stanley Cup Final, the Florida Panthers. You can also check the Penguin’s ownership if you missed it.
Established in 1993, the Florida Panthers is valued at $550 million, making them the second least valuable organization in the NHL. The value of the Florida Panthers team is 22% higher than the previous year at $450 million, and their rank has remained unchanged.
The owner of the Florida Panthers is Vincent Viola, with a net worth of $3.2 billion. He purchased the team in 2013 for $160 million.
Vincent Viola is a former soldier who ventured into entrepreneurship after military service. He founded several companies, which he later sold to more giant conglomerates. Currently, the Panthers owner serves as the director of his own financial company. He was a nominee for the Secretary of the Army, nominated by former U.S. President Donald Trump. Although trying to find different ways to comply with United States Department of Defense regulations regarding personal businesses (such as transferring ownership of the Florida Panthers to his family members and transferring responsibility for operations), he had to withdraw himself from consideration for the position.
The Panthers are Viola’s only sports franchise ownership, and collectively with his wife, he also owns two thoroughbred racehorses: St. Elias Stables and Always Dreaming.
Florida is currently experiencing its peak under Viola’s leadership. Winning the Stanley Cup can positively impact a team’s value. The Stanley Cup winner typically gets increased visibility, media attention, and fan engagement with the team, which can result in higher ticket sales, merchandise sales, and sponsorship opportunities. This increased success and popularity can contribute to an overall boost in the team’s value. Florida would benefit from winning the Cup much more than Vegas. The overall win would probably gain them more fans on social media, which would increase the operating income (the Panthers are dead last at both pointers).