Florida Panthers Lose CEO Matt Caldwell to Minnesota Timberwolves

After over a decade with the franchise, Florida Panthers CEO Matt Caldwell is leaving.

On Wednesday, Caldwell was announced as the new CEO of the NBA Minnesota Timberwolves and WNBA Minnesota Lynx.

Caldwell got a 10-year contract to join the Timberwolves who are now owned by Alex Rodriguez and Marc Lore.

On Wednesday, Caldwell told Florida Hockey Now that Rodriguez approached Florida owner Vinnie Viola not long after the Panthers won the Stanley Cup for the second consecutive year.

Although Viola hated to lose Caldwell after the work he had done building the organization up from where it was in 2013 when the Viola family bought the team, this was simply too good an opportunity to turn down.

And, with the Panthers being what they are now, Caldwell could use a new challenge.

“This is just so bittersweet,’’ said Caldwell, who will officially join the Timberwolves next week. “It has been a whirlwind for the past month or so. 
Alex Rodrigues and Marc Lore closed on the Minnesota Timberwolves in June and you know, Vinnie knows them really well. So they reached out and had a long talk with Vinnie about it. Vinnie was like ‘listen, man, I don’t want to lose you, but what else more can be accomplished, right?’

“We turned the team around. We won two Cups, sold all of our tickets. Of course, I would love to see if we can do a three-peat or however many more we can win, but these opportunities are just few and far between. Minnesota already has a pretty good basketball side and there’s a lot of trust in their ownership. I obviously spent a lot of time within the last month or so.’’

Caldwell first joined the Panthers in 2014 as Chief Operating Officer not long after Viola bought the team from Cliff Viner.

In 2016, he was promoted to CEO.

Caldwell is a former Vice President at Goldman Sachs, is a U.S. Army veteran, and a graduate of the U.S. Military Academy at West Point. 

While with the Panthers, he ran the business side of the organization but also had a hand in hockey decisions and helped hire Bill Zito as general manager in 2020.

The Panthers have gone from one of the worst draws in all of professional sports to having sold out their season tickets for two straight years.

Since Viola bought the team, the Panthers have not only won the Stanley Cup twice, but have been to the Cup Final three times — and the playoffs in six straight seasons.

The Panthers have hosted the NHL Draft, the All-Star Game, and will play at LoanDepot Park in Miami against the Rangers in the 2026 Winter Classic.

The team has also solidified its roots in Broward County having agreed on a long-term arrangement to remain in the area with the likelihood of a major renovation to the team’s arena in Sunrise.

“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,’’ Viola said in a statement.

“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.”