Timberwolves and Lynx Hire Matthew Caldwell as New CEO

[BlacJacMac]

This seems like a terrific hire.

Matthew Caldwell has been named the next Chief Executive Officer of the Timberwolves and Lynx.

For the past nine years Caldwell has been the CEO of the Florida Panthers who have won the Stanley Cup the past two seasons. Before that, Caldwell was Vice President at Goldman Sachs.

https://www.nba.com/timberwolves/news/the-minnesota-timberwolves-and-lynx-namematthewcaldwellas-ceo

Caldwell brings over a decade of sports management experience, most recently serving as President & CEO of the Florida Panthers for the past nine years. His tenure saw the Panthers achieve multiple franchise milestones, including consecutive Stanley Cup championships and record setting ticket sales, TV viewership, and sponsorship revenue. Caldwell’s leadership played an instrumental role behind the Panthers’ most successful period in franchise history which culminated with the organization being named 2025 Sports Business Journal Team of the Year. Caldwell first joined the Panthers in 2014 as Chief Operating Officer, before being appointed CEO in 2016, at which time he was the youngest CEO in U.S. professional sports at age 36. He also brings experience as a former Vice President at Goldman Sachs, U.S. Army veteran, and graduate of the U.S. Military Academy at West Point.

[Klomp]

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[Klomp]

For those really interested in the minutiae of this hire on the business side, this is a really interesting read from last October:

https://www.espn.com/nhl/story/_/id/41575614/florida-panthers-rise-prominence-ice-2024-nhl-season

Ten years ago, a photo from a Florida Panthers game went viral -- and still lives in infamy. It was Florida's third game of the 2014-15 season, against the Ottawa Senators, and it wouldn't be an impossible exercise to try to count every fan in sight.

"That picture was right at puck drop. It wound up being around 7,000 for the night, but Canadian media were all over us -- and rightfully so," Panthers CEO Matt Caldwell said. "If you're watching a professional sports team have crowds like that, it begs the question: Is this even worth it? Is this survival? Should the team be moved?"

Fast-forward a decade, and the Stanley Cup champion Florida Panthers are the toast of the hockey world. The team told ESPN it is close to selling out season tickets after a nearly 25 percent increase in attendance over the past two years (they averaged 18,632 per game last season), and a 123.8% jump in corporate partnership revenue in the same span. The South Florida market can be finicky and winning cures all, but the Panthers believe they have tapped into a sustainable model -- with a legitimate chance to repeat this season. The Panthers have become a force.

[Klomp]

Watch on YouTube

[Klomp]

Caldwell said he wasn’t looking for a job, but after nine years with the Panthers and overseeing the team become a title winner, he was ready for a new challenge and signed a 10-year contract with the Wolves and Lynx.

“We finally got the brand turned around … I don’t want to come off the wrong way, but what else more could we do with the Panthers? It was exciting and if this was just like another monstrous turnaround, worst team on and off the court, I don’t know if I’d want to go through all that again, but meeting [President of Basketball Operations Tim Connelly], seeing how great the basketball side is, the ownership, a new arena pursuit is exciting and a great thing to work on.”

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Caldwell outlined what the timeline of finding a new home could be.

To illustrate how long that might take, Caldwell said he would explain by “working backwards,” first in discussing how long it would take an arena to be built once there was “shovel to ground.”

“It typically is about two and a half to three years to build. So at a minimum, even if we were ready to start construction today, you’re talking, let’s call it three years.”

Then backtracking from that, Caldwell said it could take “two to four years” when it comes to getting to that point, depending on things like relationships with local government and scouting different sites.

“Even if you get to a handshake agreement on location and how the economics are going to work, you have to work through getting a whole operating agreement in place. Papering that can take six months to a year.

“There’s permitting that’s involved, zoning, architects, whether or not we’re going to have a development partner. That could all be within a two to four year process. You’re probably looking at least five years to have it open, but it’s a huge priority for us. But I want to set the stage that it’s going to be a massive operation.”

As for the current arena in Target Center, Caldwell said for next season the team is going to have theater-style lighting, similar to what the Knicks have at Madison Square Garden and the Lakers at Crypto.com Arena. The lights over the crowd will be dimmed to amplify and center the lighting on the floor.

https://www.startribune.com/minnesota-timberwolves-lynx-ceo-matt-caldwell/601471482

[KGdaBom]

Caldwell said he wasn’t looking for a job, but after nine years with the Panthers and overseeing the team become a title winner, he was ready for a new challenge and signed a 10-year contract with the Wolves and Lynx.

“We finally got the brand turned around … I don’t want to come off the wrong way, but what else more could we do with the Panthers? It was exciting and if this was just like another monstrous turnaround, worst team on and off the court, I don’t know if I’d want to go through all that again, but meeting [President of Basketball Operations Tim Connelly], seeing how great the basketball side is, the ownership, a new arena pursuit is exciting and a great thing to work on.”

-----

Caldwell outlined what the timeline of finding a new home could be.

To illustrate how long that might take, Caldwell said he would explain by “working backwards,” first in discussing how long it would take an arena to be built once there was “shovel to ground.”

“It typically is about two and a half to three years to build. So at a minimum, even if we were ready to start construction today, you’re talking, let’s call it three years.”

Then backtracking from that, Caldwell said it could take “two to four years” when it comes to getting to that point, depending on things like relationships with local government and scouting different sites.

“Even if you get to a handshake agreement on location and how the economics are going to work, you have to work through getting a whole operating agreement in place. Papering that can take six months to a year.

“There’s permitting that’s involved, zoning, architects, whether or not we’re going to have a development partner. That could all be within a two to four year process. You’re probably looking at least five years to have it open, but it’s a huge priority for us. But I want to set the stage that it’s going to be a massive operation.”

As for the current arena in Target Center, Caldwell said for next season the team is going to have theater-style lighting, similar to what the Knicks have at Madison Square Garden and the Lakers at Crypto.com Arena. The lights over the crowd will be dimmed to amplify and center the lighting on the floor.

https://www.startribune.com/minnesota-timberwolves-lynx-ceo-matt-caldwell/601471482

I enjoyed it when the Wolves played in the Metrodome.

[Domejandro]

Theater-style lighting will be a massive improvement, assuming that they finance the tech to do it justice. Makes watching the games in-person and on television much better.

[KGdaBom]

Theater-style lighting will be a massive improvement, assuming that they finance the tech to do it justice. Makes watching the games in-person and on television much better.

Interesting. Please keep me posted.