Panthers CEO Matt Caldwell leaves organization for Minnesota Timberwolves, Lynx
Matt Caldwell saw the Florida Panthers at their lowest point. He was integral in helping them get to their current high point, one he believes is still reaching its peak.
And now, it’s time for him to move on.
Caldwell is leaving the organization after 11 years, the past nine as the team’s president and CEO, to become the CEO of the Minnesota Timberwolves and Lynx.
The teams announced the deal on Wednesday. Caldwell’s deal with the Timberwolves and Lynx, which are now owned by Marc Lore and Alex Rodriguez, who assumed full control of those franchises earlier this summer, is for 10 years. He will start overseeing “day-to-day business operations and high-level strategic initiatives” for the teams on Sept. 2.
“This is a massive opportunity,” Caldwell told the Miami Herald in a phone interview shortly after the news was announced. “The NBA is a huge global platform. It’s a new ownership group that we know well. The Viola family has been unbelievably supportive. I’m ready for the next challenge.”
Caldwell, 45, had been with the Panthers since 2014, first as the team’s chief operating officer before being promoted to president and CEO two years later.
“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,” Panthers owner Vincent J. Viola said in a statement. “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.”
While Viola calls Caldwell’s impact “immeasurable,” there are some ways to measure Caldwell’s role in the Panthers’ rise to success as of late, which has resulted in three consecutive trips to the Stanley Cup Final and the franchise’s first two Stanley Cups.
The on-ice product is well seen, but Caldwell’s strategic work on the business side also helped make that a reality.
He played a pivotal role in building a front office team that is setting franchise records in ticket sales, TV viewership, and sponsorship revenue. The Panthers have a lengthy waiting list for season tickets. The team will also be hosting an outdoor game this season for the first time in franchise history when it plays the New York Rangers on Jan. 2 at loanDepot park, home of the Miami Marlins.
Caldwell’s leadership also ensured the franchise’s long-term presence in Broward County through arena lease negotiations along with the development of Panthers-operated facilities such as FTL War Memorial.
But what is Caldwell most proud of during his time with the Panthers?
“The fact that this has become a real hockey community,” Caldwell said. “You know, when we started, a lot of people didn’t take us serious. There was 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.”
And even though he’s leaving and there’s more turnover in the front office — chief revenue officer Shawn Thornton and chief operating officer Bryce Hollweg are also gone, replaced in-house by Mark Zarthar and Rob Stevenson, respectively — Caldwell believes the future is still bright for the Panthers. Michael Viola will oversee the transition process and lead the search for a new president of business operations.
“There’s strong ownership that’s fully dedicated,” Caldwell said. “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.”
This story was originally published August 27, 2025 at 11:05 AM.
.JPG)