 | This article's factual accuracy may be compromised due to out-of-date information. The reason given is: It appears as if SPAC is no longer in existence and failed in their bids..(June 2021) |
Sports Properties Acquisition Corporation (SPAC) is a publicly traded company who has placed a bid to purchase the Florida Panthers from Alan Cohen and Sunrise Sports and Entertainment. [1]
SPAC sold public shares in the company and must purchase a team by January 2010 or the shares will be returned to the shareholders. They have previously been interested in the Phoenix Coyotes and Montreal Canadiens.
SPAC has offered a $240 million deal to purchase the Panthers, the BankAtlantic Center and the area surrounding the arena. Along with the land, they will acquire Alan Cohen's proposal for a $2 billion project to develop the land surrounding the arena. This project has been code named City of Oz. [2]
SPAC includes Vice Chairman Andrew Murstein, a New York financier, and CEO/President Tony Tavares, a former president of the Washington Nationals. Tavares also was president and CEO of Disney Sports Enterprises, which launched the NHL's Anaheim Ducks and MLB's Anaheim Angels. Hank Aaron is also a member of this group. [3]
The Florida Panthers are a professional ice hockey team based in the Miami metropolitan area. They compete in the National Hockey League (NHL) as a member of the Central Division. The team initially played their home games at Miami Arena, before moving to the BB&T Center in 1998. Located in Sunrise, Florida, the Panthers are the southernmost team in the NHL. The team's local broadcasting rights have been held by Bally Sports Florida since 1996.
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