Florida Panthers. David Kirouac-USA TODAY Sports

Panthers Exec Leaves for NBA Opportunity

Originally posted on Breakaway on SI | By Jon Alfano | Last updated Aug 28, 2025 12:39 PM ET

The Florida Panthers are officially the envy of the NHL, coming off back-to-back Stanley Cups and looking like a solid candidate to become the first team to three-peat in over 40 years.

However, even they aren't immune to losing key figures in their success.

On Wednesday, the Panthers announced that team president and CEO Matthew Caldwell has accepted a new role as CEO of the NBA's Minnesota Timberwolves and WNBA's Minnesota Lynx. Caldwell has been with the Panthers since 2014 and took over as president and CEO two years later. Just 36 years old at the time, Caldwell became the youngest CEO in all of American professional sports when he was promoted.

“These past nine years as CEO of the Florida Panthers have been the highlight of my professional career," Caldwell said, per the team's website. "The Viola family has been a second family to me, and I will be forever grateful for the opportunity to have led this historic franchise turnaround. I am ready for my next challenge and couldn’t be more thrilled to bring our champion mindset to the Minnesota community. The Panthers franchise is in great hands with the executive team and hockey leadership in place and I will be cheering from afar as the team continues its championship run.”

Caldwell may have been more on the business side than the hockey side, but his impact on the organization was immense. He helped secure the Panthers' long-term future in South Florida with a new arena deal, which currently runs through 2033 with options to extend until 2043, and oversaw the development of multiple facilities. He also helped build the front office into probably the best in the NHL today.

“Since joining the Panthers in 2014, Matt has led by example, serving our employees, clients, fans and the South Florida community with passion and professionalism," Panthers owner Vincent Viola said. "His determination drove our franchise turnaround and helped instill a culture of excellence, and now he is ready for his next challenge.

"There are very few opportunities I would advise him to pursue, but working with Alex Rodriguez and Marc Lore on a global platform like the NBA is at the top of that list. It’s tremendously bittersweet for our family, but we recognize this is an exceptional opportunity and great next step in his career. Matt’s impact on our organization has been immeasurable and he leaves with our respect and gratitude.”

Caldwell, a U.S. Army veteran and former vice president at Goldman Sachs, will begin overseeing day-to-day business operations for the Timberwolves, Lynx and G League's Iowa Wolves on Sept. 2. Lore and Rodriguez said in a joint statement that they "can't wait to see the remarkable impact his bold leadership will have on this organization."

This article first appeared on Breakaway on SI and was syndicated with permission.

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