Spotlight On: Matthew Caldwell, President & CEO, Florida Panthers
March 2025 — In an interview with Invest:, Matthew Caldwell, president and CEO of the Florida Panthers, discussed how winning the Stanley Cup has transformed the team’s brand, fan engagement, and business operations. “It’s been absolutely magical,” Caldwell said. “The Stanley Cup is every team’s ultimate goal, and to win it in our 30th year is a crowning achievement.”
How has winning the Stanley Cup impacted the Panthers’ brand, fan engagement, and business operations?
It’s been absolutely magical. The Stanley Cup is every team’s ultimate goal. There are 32 teams in the NHL, and every season all 32 aspire to win the Cup. Two years ago, we went to the Cup and didn’t reach the top, but we got close. To be able to get back there is a proud moment for the players, coaching staff, and hockey ops team. We won in seven games after a thrilling series.
From a brand perspective, with all the success we’ve had over the last 10 years, and especially the last five, this is the culmination of our efforts. It’s the first Stanley Cup the team has ever won in its 30-year history. Seeing the reaction of the fans, especially the 30-year season ticket holders who have been with us since day one, has been incredible. It’s a crowning achievement. This victory has been tremendous for the brand, putting us on the map as one of the major players in the NHL.
For the business, all our season tickets are sold out. Most of our 41 regular-season games, at least 30, will be completely sold out. Season tickets make up about two-thirds of our arena, with the rest open for nightly purchases.
Our sponsorships are thriving. Amerant Bank is our naming rights partner, and we’ve added new partners. We opened our practice facility at War Memorial last year, along with the music venue there. All of this came together in the same year we won the Stanley Cup. I wish I could say we planned it that way, but we’ll take it.
The economic impact has been significant. We played four series, including against the Tampa Bay Lightning, our local rival, and big markets like Boston, New York, and Edmonton. The influx of fans traveling for these games boosted local hotels, restaurants, and bars. After winning, we held a parade on the beach in Fort Lauderdale, attended by several hundred thousand people, even in the rain.
It’s a wonderful story, and many have asked if we’ll write a book or make a movie. It’s a testament to the ownership’s vision, the right mix of players, and the community’s support.
What are the major trends that are shaping the business of professional hockey and how are the Panthers adapting?
The first major initiative is our local media rights partnership. It’s about making it easy for people to access games. While many come to the arena physically, there’s a larger market of fans who can’t make the drive or prefer to watch from home, on their phones or tablets. We want the Panthers brand to be everywhere. Starting this season, we changed our local media rights, covering about 70 of our 82 regular-season games.
We partnered with Scripps, a company with over-the-air (OTA) channels, which is old-school linear television. You don’t need cable or satellite, just an antenna. With the decline in cable subscriptions, this move to Scripps has provided massive distribution. Anyone with a TV and an antenna can access our games on one of the 30 basic channels. For those without a TV or who prefer streaming, we launched a direct-to-consumer app called Panthers Plus. It allows fans to watch games on phones, tablets, or desktops without needing linear TV or subscriptions.
This dual-pronged approach has led to more than a twofold increase in TV viewership. Two years ago, during our Stanley Cup run, even though we didn’t win, the playoff success had a significant impact on ticket sales, sponsorships, and merchandise. However, TV ratings remained flat the following year. This indicated that while interest in the team was growing, the traditional cable model was limiting access. Now, with Scripps and Panthers Plus, we’re reaching more fans and seeing a substantial increase in viewership.
The second trend in live sports is international play. The recent Four Nations Tournament, featuring the United States, Canada, Finland, and Sweden, was a precursor to NHL players participating in the Olympics next year. It was a huge success, and we had eight players representing their respective countries, bringing great exposure to the league and our team. The NHL has already announced plans for the Olympics and a World Cup of Hockey, expanding international competition beyond the four nations.
The third trend is the continued shift to digital, data, and AI. We’ve invested heavily in our business intelligence and marketing groups, and it’s paying off. We’re leading the NHL in social media growth, whether it’s engagement on X, Facebook, or YouTube. Our content is driving growth, and we’re climbing the rankings not just in team performance but also in attendance, sponsorships, and social media presence. This growth introduces more casual fans to the sport, expanding our fan base beyond diehard hockey enthusiasts.
What initiatives do you have in place to continue to grow hockey in South Florida?
At the War Memorial, located in the center of Fort Lauderdale within Holiday Park, there are two main components to the project. The first is the Baptist Health Iceplex, which features two sheets of ice. One sheet is entirely community-focused, supporting grassroots initiatives like learn-to-skate and learn-to-play programs. My five-year-old daughter is in the learn-to-skate program and loves it. The goal is to get young kids skating, whether for hockey, figure skating, or just public skating.
We’re also growing our floorball program, which is now in over 500 schools. We train PE teachers to introduce hockey on gym floors using sticks, balls, and nets, making it a more efficient way to teach hockey without needing more ice rinks. This program is flourishing.
With three sheets of ice in Coral Springs (our old practice facility) and two more in Fort Lauderdale, we now operate five sheets of ice for hockey programming. This is crucial for building future fans.
What are your top priorities for the Panthers over the next few years and what are the biggest opportunities that you are looking to capitalize on?
The priority is continuing to invest in the team. We’ve already extended our coach and general manager, the leadership behind our hockey team, for the next five years. At least five of our core players — Aleksander Barkov, Matthew Tkachuk, Sam Reinhart, Carter Verhaeghe, and Gustav Forsling — have contracts extending beyond five years. We’re also working on extending other key players. Our goal is to play at the salary cap to give us the best shot at winning the Cup every year.
As part of the new county deal, there will be significant upgrades to the building. The county owns the arena, and we’re the tenant responsible for capital expenditures, maintenance, and upkeep. Now that we’re a Cup-winning team, we need a first-class facility. We’ve already announced a new scoreboard and are working on a hospitality and party deck in the upper level to enhance the fan experience with more options and better sightlines. We’re also upgrading our Panthers retail store, which is jam-packed at every game, and addressing behind-the-scenes infrastructure like the central plant and electrical systems.
The county deal also gives us four years to submit a plan for potential development around the Sunrise Arena. These development rights are owned by the county, but we have exclusive bidding rights. While we don’t have specific plans yet, we’re brainstorming ideas. The goal is to create a multi-use district, similar to what many sports arenas and stadiums have.
Between the Sunrise Arena, the War Memorial in Fort Lauderdale, and the facility in Coral Springs, we have three locations to manage and enhance. We’ve become skilled at operating these facilities and plan to scale our efforts by expanding our staff’s capabilities. This will be a major focus as we continue to grow the platform.
READ MORE: Florida Panthers’ success on the rink paying dividends in South Florida
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