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Matthew Caldwell, Shawn Thornton Leave Panthers For NBA

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Florida Panthers’ team president and CEO Matthew Caldwell is set to leave the organization after 11 years to become the CEO of the NBA’s Minnesota Timberwolves and WNBA’s Minnesota Lynx, per David Dwork of The Hockey News. The report was confirmed by Tim Reynolds of the Associated Press. Additionally, former NHL pro Shawn Thornton announced he will step down from his role as Florida’s Chief Revenue Officer (CRO) to join the NBA’s Atlanta Hawks as a Senior Vice President and Chief Partnership Officer. Thornton joined Florida’s executive staff in 2017.

These moves stand as two major changes to the Panthers’ top level of business management. Caldwell joined the Panthers in 2014, amid some of their darkest years. He quickly took to a litany of responsibilities, and earned a promotion from Chief Operating Officer (COO) to CEO after just two years with the organization. He was 36 at the time. In the boosted role, Caldwell was able to take on efforts that helped to reshape the Panthers from an NHL bottom-dweller to a modern dynasty.

Caldwell played an instrumental role in the formation of Florida’s lauded front office and coaching staff. He supported the team to a franchise record in ticket sales, TV viewership, and sponsorship revenue and led the hiring of then-rookie general manager Bill Zito. Caldwell also supported the sale of local media rights to Bally Sports in 2022, Florida’s arena naming rights to Amerant Bank in 2023, and additional media sales to Scripps Sports in 2024. The trio of deals expanded coverage of Panthers hockey across Florida.

Success in the Sunshine State was only a small part of Caldwell’s career. He graduated from the United States Military Academy at West Point and served five years as a Captain in the U.S. Army. During that time, he oversaw combat operations in Iraq, peacekeeping efforts in Kosovo, and soldier training in Germany. He received numerous accolades for that service. Caldwell turned towards a career on Wall Street after his military duty concluded, taking on the role of Vice President with Goldman Sachs. He also attended the Northwestern University School of Law for his J.D. and MBA degrees. The Panthers cover Caldwell’s accomplishments more in depth on their website.

Now, Caldwell will join the Timberwolves and Lynx on the heels of their sale to Marc Lore and former MLB legend Alex Rodrigues. In doing so, he will continue to sustain an illustrious career that Panthers Owner Vincent Viola knows they won’t be able to replace. Viola told the Associated Press:

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… Matt’s impact on our organization has been immeasurable and he leaves with our respect and gratitude

On top of that weight, the Panthers will also lose former bruiser turned proficient executive Shawn Thornton. Thornton played through 14 years and 705 games in the NHL. He was among the very last true enforcers in the NHL, and racked up an incredible 1,103 penalty minutes over the course of his career. Over his full career, Thornton averaged 12 points and 128 penalty minutes per 82 games played.

Thornton retired as a member of the Florida Panthers in 2017, at the age of 39, and quickly took to a front office role. His business career began as a Senior Vice President of Business Operations – filling a litany of roles, including heading marketing, sponsorships, broadcasting, game presentation, and community relations. He was promoted to the team’s Chief Commercial Officer in 2020, then to CRO in 2022.

Thornton has been a pillar of growth since the onset of his post-playing career. In addition to his role with the Panthers, he also runs the Shawn Thornton Foundation – geared towards raising funding for life-threatening diseases, including Parkinson’s Disease. That organization was formed in 2013.

Florida will now bear the burden of filling two major roles in their executive offices. It will be a tough task, though one the organization seems well set up for after winning back-to-back Stanley Cups and appearing in three-straight Stanley Cup Finals. They’re a true NHL dynasty, and averaged the fifth-most attendance in the league last season according to HockeyDB. This news will mark turnover and new opportunity for a club in the midst of their peak.

Photo courtesy of Charles LeClaire-USA TODAY Sports.

Snapshots: Valentini, Thornton, Nikishin, Wilsby

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Initially announced by the OHL’s Kitchener Rangers and later confirmed by the University of Michigan, a top prospect for the 2026 NHL Draft will play for a different team next season. Adam Valentini will be joining the Wolverines next season rather than the Rangers.

The Toronto native is projected to be a late first-round pick in the 2026 NHL Draft, but his prospect ranking could rise following his performance with Team Canada at the Hlinka Gretzky Cup. He finished the tournament with four goals and nine points in five games, after scoring 17 goals and 39 points in 58 games with the USHL’s Chicago Steel.

Moving from the OHL to the NCAA will be a significant risk for Valentini. If he performs well against much older competition, he could find his way into being a late lottery selection. Still, if the transition goes poorly, Valentini could fall out of the first round altogether. Furthermore, with the Wolverines having one of the youngest rosters in the Big Ten Conference next season, there’s no guarantee the team around him can lift him if he falters.

Other snapshots:

  • According to a post on his LinkedIn, and shared by Ty Anderson of 98.5 The Sports Hub, former NHL enforcer Shawn Thornton is moving on from his position with the Florida Panthers. Despite not sharing the next role of his career, Thornton had been working as the Senior Vice President of Hockey Operations for the Panthers for the last four years. Without speculating too much on his next chapter, it’s realistic to think that Thornton has found another role in hockey operations elsewhere.
  • In a new interview with Daria Tuboltseva of RG Media, Carolina Hurricanes Alexander Nikishin spoke at length about his preparation for what’s expected to be the first full season in the NHL this upcoming year. Up to this point, Nikishin only has four postseason games under his belt from the 2024-25 Stanley Cup playoffs, but he did play the entire regular season with the KHL’s SKA St. Petersburg. In the interview, he spoke about how seriously he’s taking his preparation for the upcoming campaign, saying, “I want to train properly. My first NHL experience was a lesson – I realized what I need to work on. Now it will be easier because I already know the guys, the staff, the locker room, how practices go. I can’t wait for the season, but preparation is the key. I want to be as useful for the team as possible, without being the weak link.“
  • A few weeks ago, reports emerged that Nashville Predators defenseman Spencer Stastney considered retiring last summer. Similarly, a new interview between Rasmus Kågstrom of Hockeysverige and defenseman Adam Wilsby indicates that the latter was considering a return to his native Sweden rather than continue his pursuit of an NHL role. As things turned out, Wilsby spent most of his time playing for the Predators last season and has a decent chance to make the team out of training camp this September. In the interview, Wilsby was quoted as saying, “Of course, I started thinking about where I would take the next step. At the same time, I felt like I wasn’t quite done with the US yet. I felt like it would either work out, or I would probably end up going to Europe. It’s great that it paid off.“

Snapshots: Kovalchuk, Quenneville, Thornton

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Despite rumors out of Russia that Ilya Kovalchuk was now considering staying in the KHL next season, Devils GM Ray Shero told Mike Morreale of NHL.com that the sniper is still pursing NHL opportunities. Shero spoke with Kovalchuk’s agent yesterday, and is waiting on his camp to make a decision.

I can’t go out calling teams because that’s a waste of my time. He’s going to tell [us] where he wants to play and in the end, if that does work out and it’s not the Devils, then I’ve got to see if that makes sense for us to do that.

Kovalchuk would be an interesting addition to many teams around the league, but can’t officially sign a new contract or be traded until July 1st. A sign-and-trade this summer is the most likely scenario, though he could wait another year to become an unrestricted free agent and able to sign with any team in the league. That said, a contract next summer would come at the age of 35, and with it the restrictions 35+ contracts contain.

  • The New York Islanders have extended a “bona fide offer” to draft pick David Quenneville, in order to retain his rights for another year. This information almost never comes out officially, but in order to keep his exclusive negotiating rights until next June the offer needed to be submitted today. Quenneville, the brother of New Jersey forward John Quenneville and second cousin to Blackhawks coach Joel Quenneville, was drafted in the seventh round last summer and enjoyed a successful season for the Medicine Hat Tigers.
  • The Florida Panthers have officially welcomed former player Shawn Thornton into their front office as Vice President, Business Operations. It had previously been reported that Thornton was headed for the business side of the game after retirement, and he’ll now work with President Matthew Caldwell. The veteran of 705 NHL games is known for his charitable work in the community with programs like the Shawn Thornton Foundation and the Pucks and Punches for Parkinson’s golf tournament.
  • Vegas has a new ECHL affiliate, announcing a partnership with the Quad City Mallards today. The Mallards had previously been affiliated with the Minnesota Wild who, according to Michael Russo of the Star Tribune, will have a new ECHL team announced next week. The Golden Knights had previously announced their AHL affiliate as the Chicago Wolves, and now will have two minor league teams to fill as they look to build a pipeline of young talent.

Snapshots: Suzuki, Thornton, Malkin, Giordano

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Now that Jack Hughes will be heading to the US Development Program, the expected first overall pick in the upcoming OHL draft was vacated. While Hughes would have been a shoe-in for the Barrie Colts selection, Bob McKenzie of TSN now reports that it will be Ryan Suzuki going first. If that last name strikes you as familiar in regards to a hockey draft, you’re not crazy—Nick Suzuki, Ryan’s older brother, is expected to go in the first round in this summer’s NHL entry draft. The older Suzuki is playing with the Owen Sound Attack of the OHL and has a chance at a Memorial Cup bid this spring. In 70 games this season (including five playoff contests), the 17-year old centerman has 106 points.

  • Shawn Thornton will call it quits after this season, and transition into a business position with the Florida Panthers according to Craig Davis of the Sun Sentinel. Thornton will finish with 705 career games played and over 1100 penalty minutes. The rough, physical forward hit double digit goals only twice in his career, but was part of two different Stanley Cup winning teams. At 39-years old, he’s carved out an impressive career for a player drafted in the seventh round who never even recorded 30 points in his junior career. While a lot of that success has to do with his fists, he’s also a testament to work ethic and perseverance.
  • Penguins’ head coach Mike Sullivan told reporters that the team is “optimistic” Evgeni Malkin will be ready for the start of the playoffs. After getting news that Kris Letang would miss 4-6 months following neck surgery, getting Malkin back as soon as possible is extremely important if the Penguins want to do any damage in the postseason. Malkin has been skating by himself for a few days, and took shots before practice this morning.
  • Mark Giordano will not receive any supplementary discipline for the hit that injured Cam Fowler last night, according to Mike Halford of NBC. Giordano went knee-on-knee with Fowler, but did receive a punishment of sorts when Josh Manson decided he deserved some justice. Losing Fowler for any length of time would be a big hit to the Ducks as they head into the postseason.

Shawn Thornton Expected To Retire After Next Season

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Florida winger Shawn Thornton is expected to retire following the 2016-17 season, reports DJ Bean of WEEI.  Interestingly enough, last year was supposed to be his final season but when the Panthers opted to offer him an extension just before the trade deadline, he jumped at the opportunity to stick around for one more year, telling Bean that, “When they offered another year, I sprained my finger signing the thing before they changed their minds”.

Thornton has played a part-time role with Florida in the past two years after joining the team in the 2014 offseason.  In 2015-16, he suited up in 50 games for the Panthers, picking up a goal and four assists to go along with 80 penalty minutes.  He also got into four postseason contests, being held pointless.

The 39 year old was drafted by Toronto in the seventh round of the 1997 draft but never suited up for the Leafs.  He still has been well-travelled over the years, getting in 655 games with Chicago, Anaheim, Boston, and Florida, picking up 40 goals, 58 assists, and 1,036 penalty minutes.

A year ago, Thornton was planning on getting involved in sports media in his retirement but has had a change of heart and now plans to get into the business side of the game:

“As we know, things change year-to-year – this would have been a different conversation last year – but as of right now I think I’m probably leaning more towards the business side of hockey. Once the season’s over, I’ll probably move into that role in Florida.  Media, I did a lot and that’s exactly where I thought I was going to end up going, but if the opportunity is still there to get into learning something new in the business side of sports, I just see a ton of upside to that for longer in life.”

Thornton will likely once again be a part time player with Florida next season, as evidenced by the pay cut he took in his deal last February.  After earning $1.2MM in each of the last two seasons, he is only guaranteed half of that in 2016-17 with an additional $172K in games played and Stanley Cup bonuses.  When in the lineup, he’ll likely be deployed on Florida’s fourth line.

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