Panthers president and CEO quits the team.

The Florida Panthers are undergoing a major shakeup at the very top of their organization.

On Wednesday, the Panthers officially announced that team president and CEO Matthew Caldwell would be leaving the team for good. Caldwell, who has been credited as a key contributor in turning the Panthers into the successful franchise we see in today's National Hockey League, will be departing for a position with the National Basketball Association's Minnesota Timberwolves.

Panthers owner Vincent Viola has released the following statement via the team's official website:

"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. 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," said Viola. "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."

The decision to leave an NHL team that has won two consecutive Stanley Cup championships for an NBA team that has never won a championship in the entire history of the franchise may seem like an odd choice, but there may be a very good reason Caldwell made this decision.

The world of professional sports can be a cutthroat business, one where finding any kind of long term stability can be extremely challenging, and the Timberwolves stepped up with an offer for Caldwell that will ensure stability for the next decade of his life. This new deal with the Timberwolves is reportedly a 10-year contract according to multiple sources.

The deal is so unusual for the world of professional sports that it is being described as a head turner.

The Panthers have not named a replacement for Caldwell at this time but I suspect that their search has already begun in earnest. Caldwell spent 9 years within the Panthers organization and will be extremely difficult, if not impossible, to replace.