Cifu, talking on TSN 1290 radio in Winnipeg, said the Panthers are losing "millions" overall.
The Panthers set a franchise low for single-game attendance on Oct. 14 after only 7,311 filled the BB&T Center in Florida. The arena has a capacity of 15,720 and the team's previous low mark was 10,063, which came seven years ago.
In two home games since, Florida had crowds of 9,774 and 7,691.
According to CBC Sports, Cifu said the Panthers will continue to lose money this season, but not to the extent that they did in 2013-14. He also said that "net intake has not suffered," which has been a result of the team doing away with discounted or complimentary tickets.
The team's financial woes have spurred speculation that a relocation is on the horizon, but in September, Panthers ownership vowed to keep the team in South Florida.
- Molly Geary