FORT LAUDERDALE, Fla. — Matthew Caldwell is set to depart from his esteemed position as President of Business Operations for the Florida Panthers, the team that recently secured back-to-back Stanley Cup championships. He has accepted a significant 10-year contract to become the Chief Executive Officer of the NBA`s Minnesota Timberwolves and the WNBA`s Minnesota Lynx.
The Minnesota franchises officially announced this pivotal agreement on Wednesday. Caldwell will commence his new responsibilities on September 2, overseeing all daily business operations and spearheading high-level strategic initiatives for the Timberwolves, Lynx, and their G League affiliate, the Iowa Wolves.
This move marks a crucial strategic decision by the Timberwolves and Lynx`s new co-owners, Marc Lore and Alex Rodriguez, who assumed complete control of the organizations earlier this summer.
Caldwell expressed his enthusiasm for the transition, stating, “I have a deep appreciation for the NHL, and I`ve truly enjoyed my time in hockey as a fan and professional. However, the NBA offers an even broader, global platform. I have immense faith in Marc and Alex’s vision and their ambitious goals. They are committed to elevating Minnesota to become a benchmark of excellence in professional sports.”
Caldwell initially joined the Panthers organization in 2014 as Chief Operating Officer, subsequently being promoted to CEO in 2016, where he played a transformative role.
In a joint statement, Lore and Rodriguez highlighted their high expectations: “Our objective is for the Timberwolves and Lynx to establish an unprecedented standard of excellence in professional sports, and we are confident that Matthew possesses the leadership qualities necessary to achieve this. Ushering our organization into an innovative new era demands an exceptional individual at the helm, and Matthew`s proven track record leading the business side of the Florida Panthers is undeniable. We eagerly anticipate the remarkable impact his bold leadership will bring to this organization.”
Caldwell`s impressive background includes service in the Army, graduating from West Point, earning MBA and law degrees from Northwestern University, and working on Wall Street for Goldman Sachs. He was instrumental in many facets of the Panthers` remarkable turnaround in recent years, particularly concerning off-ice operations and financial stability.
Earlier this year, the Panthers solidified their future in South Florida by extending their operating agreement with Broward County for an additional five years, securing the team`s presence in the market through at least 2033 and likely well beyond. The team is also slated to host its first-ever outdoor game at the Miami Marlins` stadium this season, boasts a substantial waiting list for season tickets, and inaugurated a new state-of-the-art practice facility at Fort Lauderdale`s War Memorial two years prior.
Caldwell acknowledged the bittersweet nature of his departure, a sentiment strongly echoed by Panthers owner Vincent Viola.
Viola commented, “There are very few opportunities I would encourage him to pursue, but collaborating with Alex Rodriguez and Marc Lore on a global stage like the NBA is undoubtedly at the top of that list. While it`s profoundly bittersweet for our family, we recognize this as an extraordinary opportunity and a significant advancement in his career. Matt`s contribution to our organization has been immeasurable, and he leaves with our deepest respect and gratitude.”