South Florida Rivals in financial Peril

From - NHL

A financial audit of the Florida Panthers hockey team has raised "substantial doubt" about the long term future of the NHL franchise.

While the Office Depot Center generated a profit of $5.1-million after expenses last year, financial auditors Deloitte and Touche expressed concerns about the Panthers in a report submitted to Broward County on Tuesday.

The report shows Panthers Hockey LLP "incurred a net loss, had a working capital deficiency and had negative cash flows from operating activities" during the fiscal year which ended June 30, 2003.