Panthers President and CEO Matt Caldwell leaves for the Minnesota Timberwolves, part of larger business operations changes
Former team president Matt Caldwell leaves for the NBA after leaving an indelible mark on the Florida Panthers both on and off the ice.
While the Panthers have been able to keep most of their 2025 Cup Champion on-ice roster in tact, a large part of their rise to success on the front office side is leaving for a new challenge. Team President and CEO Matt Caldwell is leaving the Panthers to become CEO of the Minnesota Timberwolves and Lynx.
“These past nine years as CEO of the Florida Panthers have been the highlight of my professional career,” Caldwell said in a statement released by the team. “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 joined the Panthers in 2014 shortly after Vinnie Viola bought the team and became team President in 2016. He was part of the braintrust which hired Bill Zito in 2020 and played a major role in helping build the Panthers new practice facility in Fort Lauderdale.
“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. 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,” said Viola. “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’s impact on the Panthers can be seen on every facet of the organization. Under his leadership, the Panthers having been drive in record revenues from ticket sales including a season ticket waiting list, a new TV deal, arena sponsorships and much more. Without him, it’s unlikely the Panthers would be hosting the Winter Classic at LoanDepot Park and had hosted the All-Star Game in 2023.
Between the big events Caldwell had brought in and the new practice facility, hockey has grown tremendously in South Florida.
The rise of the on ice product goes hand in hand with the improvement in business operations, particularly for a team that gave away hundreds if not thousands of comped tickets when Caldwell joined the organization. He certainly leaves behind an extremely strong legacy, and has plenty to be proud of.
“You know, when we started, a lot of people didn’t take us seriously,” Caldwell told Jordan McPherson of the Miami Herald. “There were relocation rumors. There were attendance problems. But to see how Broward County in particular — our big partnership with them, their faith in us, and then all the fan base South Florida rallied behind us, we couldn’t have done this without them. They believed in our vision. It didn’t turn around right away — like anything in life that takes time — but to see kids wearing Panthers jerseys, the War Memorial and Ice Den packed with youth hockey, skating lessons, learn to play, all the community work we’ve done the years among us, program like that means so much to me because that’s changing lives and changing families. Obviously the Stanley Cups are amazing resume builders and have great experiences, but the long lasting impact of what hockey has meant to the local community is what I’m most proud of.”
Caldwell’s departure is just one of a handful of notable front office changes this offseason. Rob Stevenson has been promoted to COO, replacing Bryce Hollweg who has left the organization, and Mark Zarthar has been promoted to Chief Revenue Officer, replacing Shawn Thornton who has left to take a similar role with the Atlanta Hawks. Each of them will have big shoes to fill as the Panthers attempt to sustain and maintain what has been built on and off the ice over the last decade.
Caldwell leaves a large legacy and void for the organization to fill, but they hope their ability to replace players who leave for new challenges and teams can translate to the business side of the organization as well. There will no doubt be other teams across not just the NHL but all sports that will see what the Panthers have accomplished and decide they want something like that too, and the Panthers have to be ready for more changes like this in the future. But with what they’ve built, and their joy in seeing former Panthers thrive in new homes too, they’re as well set up for success in spite of the changes.
“There’s strong ownership that’s fully dedicated,” Caldwell told the Herald. “We have the whole roster coming back. [President of hockey operations and general manager Bill] Zito, [head coach Paul] Maurice, the hockey staff is signed up long term. We built out a strong front office. ... The sign of a good leader is when he leaves things in a good place, and I didn’t do my job if I didn’t leave this in the right hands.”