- Florida Panthers were crowned Stanley Cup champions Monday night, defeating the Edmonton Oilers in seven games.
- After purchasing the Panthers for $250 million in 2013, Virtu Financial founder Vinnie Viola delivered on his promise to bring a pro hockey championship to South Florida for the first time in franchise history.
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As Florida Panthers captain Aleksander Barkov skated around the ice with the Stanley Cup — it marked a dramatic turning point for a long-suffering franchise and fan base.
But the real turning point happened 11 years ago a few months after Barkov was drafted — when Virtu Financial founder Vinnie Viola acquired the team for $250 million.
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"The team had struggled with attendance, certainly a lack of winning," Florida Panthers President and CEO Matt Caldwell told CNBC's "Last Call" on Friday. "Vinnie … was committed from day one to investing in the team."
Upon purchasing the last-place Panthers, Viola made his intensions clear at his first official team press conference in 2013.
"My family and I are honored to take the helm of the Florida Panthers organization with the No. 1 goal of putting a winning team on the ice year after year and bringing a Stanley Cup to our incredible fans here in South Florida," Viola said.
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After more than a half-decade of inconsistent performance on the ice, a tonal shift for the franchise happened in September 2020, when former player agent Bill Zito was hired as the Panthers' new general manager.
Gutsy moves by Zito — like bringing in tenacious forward Matthew Tkachuk in a blockbuster trade with the Calgary Flames — proved to be crucial building blocks for the team.
"He's totally reshaped our hockey operations," Caldwell said. "We've had a lot of consistency the last couple years. To be in back-to-back Stanley Cup finals has been a dream."
The South Florida market has taken notice of the Panthers' on-ice success — and that's translated into impressive revenue growth.
Since the 2021-22 season, attendance has jumped 25.7%, ticket revenue has spiked 50%, and corporate sponsorship revenue has skyrocketed a staggering 123.8%, according to the team.
"It's been a long grind," Caldwell said. "I think we always had faith and Vinnie has been tremendous in leading the charge and setting a vision."
