Sale Of Panthers Does Not Meet NHL Requirements

from Barry Jackson of the Miami Herald, The proposed sale of the Florida Panthers to Sports Properties Acquisition Corp. has been derailed, at least for now, because the terms of the deal do not satisfy the NHL’s ownership requirements, according to people briefed on the situation. Owner Alan Cohen has been trying to sell the franchise but also would be receptive to adding a minority owner with a substantial stake and has had advanced discussions with at least one local businessman. Cohen wanted to complete the sale to Sports Properties, but the NHL recently balked because the buyer, a public company, does not have a primary investor with a substantial equity stake. continued