The proposed $600 million renovation of KeyArena could also lure an NHL team and construction could begin next year.
The Penguins defenseman last played Feb. 21 and later underwent surgery in April to repair a herniated disk in his neck.
The NHL could wind up in Seattle within three years if the plan goes as hoped.
Panthers CEO Matthew Caldwell said the NHL team is even preparing to open training camp and begin practicing up north if necessary.
Concussion-related symptoms almost cost Okposo his career back in March.
The right winger had his three-week-old son, Brecken, baptized in the Cup during a Wednesday ceremony.
The veteran forward was informed on June 19 that the Coyotes would not be re-signing him and he became an unrestricted free agent.
The Hall of Famer will become the sixth Flyers player to have his jersey retired.