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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) - November 26, 1997
FLORIDA PANTHERS HOLDINGS, INC.
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(Exact Name of Registrant as Specified in its Charter)
DELAWARE 1-13173 65-0676005
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
450 EAST LAS OLAS BOULEVARD, FORT LAUDERDALE, FLORIDA 33301
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(Address of Principal Executive Offices) (Zip Code)
(954) 712-1300
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(Registrant's Telephone Number, Including Area Code)
NOT APPLICABLE
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(Former Name or Former Address, if Changed Since Last Report)
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ITEM 5. OTHER EVENTS.
On September 4, 1997, Florida Panthers Holdings, Inc. (the "Company")
entered into a purchase and sale agreement (the "P&S Agreement") by and among
Florida Golf Management Inc., a wholly-owned subsidiary of the Company, Rolling
Hills International Country Club, Ltd., Space Development Ltd., Broward Anchor
International, Ltd., Rolling Hills Management, Inc., Rolling Hills Hotel, Ltd.,
Cosmos Group Inc. and International Dining, Ltd. The transaction contemplated by
the P&S Agreement was consummated on November 26, 1997.
Pursuant to the P&S Agreement, the Company acquired certain assets
associated with the Rolling Hills Golf and Country Club ("Rolling Hills") in
exchange for $8.0 million in cash. The purchase price was funded from the
Company's working capital reserves. The assets acquired consist of an 18 hole
golf course located in Davie, Florida, a 27,000 square-foot club house, a
restaurant, a grill, a pro shop, practice greens, a driving range and a parking
lot. The Company also acquired approximately 79 acres of land adjacent to
Rolling Hills, which will be available for future development.
Rolling Hills will continue to operate as a daily-fee non-equity golf
course and will also serve as an amenity to guests at Hyatt Regency Pier 66
Hotel and Marina and Radisson Bahia Mar Beach Resort and Yachting Center, two of
the Company's waterfront resorts which are located in Fort Lauderdale, Florida.
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ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(a) Financial Statements of Business Acquired
Not applicable.
(b) Pro Forma Financial Information
Not applicable.
(c) Exhibits
EXHIBIT NO. DESCRIPTION
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99.1 Press release dated September 8, 1997
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
FLORIDA PANTHERS HOLDINGS, INC.
Date: December 16, 1997 By: /s/ WILLIAM M. PIERCE
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William M. Pierce
Senior Vice President and Chief
Financial Officer
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EXHIBIT 99.1
FLORIDA PANTHERS HOLDINGS, INC. TO ACQUIRE ROLLING HILLS GOLF COURSE
Fort Lauderdale, Florida (September 8, 1997) - Florida Panthers
Holdings, Inc. (NYSE:PAW) announced today an agreement to acquire the Rolling
Hills Golf Course in a transaction valued at approximately $8.0 million, payable
in cash.
The championship 18 hole golf course is located on University Drive
just south of Interstate 95 in Broward County and was the site for the filming
of the hit comedy, "Caddyshack".
"This transaction will allow us to upgrade and improve an already
excellent course and offer an additional first class amenity to the Pier 66 and
Bahia Mar Resorts located in Fort Lauderdale," said Richard Evans, President of
the Company.
The transaction includes the 18 hole golf course, a 27,000 square-foot
clubhouse, a banquet and meeting room facility, and seven acres of undeveloped
land adjacent to the golf course. Also included is a nine-hole golf course on 70
acres with room for additional golf related development. The golf course was
purchased from a group of private companies who will retain a minority interest.
Florida Panthers Holdings, Inc. owns the Boca Raton Resort & Club,
controlling interest in the Registry Hotel in Naples, the Hyatt Regency Pier 66
Resort and Marina, the Radisson Bahia Mar Resort and Yachting Center and Club,
as well as the Florida Panthers Hockey Club, the Arena Development and Arena
Operating Companies, Incredible Ice Skating Rinks and an interest in the Miami
Arena.
