The Estevan Bruins lost more than $60,000 last season, but the team is optimistic about its financial situation due to revenue generated since the 2010-11 fiscal year ended.
The Bruins held their annual general meeting last Wednesday, where it was revealed that the organization ran a deficit of $61,519 for the fiscal year ending April 30, 2011.
The team also welcomed two new board members, with Cory Prokop and Randy Bye filling vacant positions. Kim Anderson resigned at the expiry of his term. President Jeff Pierson and vice-president Chad Saxon agreed to stay on for a new two-year term.
Several reasons were raised for the shortfall. Regular season expenses were up nearly $100,000 from the previous season, with most of the difference coming in equipment costs, including a drastic increase in stick expenses.
The team's stick costs went from an abnormally low $7,335 in 2010 to an exorbitant $52,011 last year.
Pierson said the stick budget got "out of control" last season. First-year head coach and general manager Keith Cassidy said he had "never heard of a stick budget like that in my entire life."
This year's stick budget is $30,000.
Another factor was the dismissal of head coach Karry Biette in January, which led to an increase in salaries paid out.
The team's underachieving fourth-place finish last season was felt to have had a trickle-down effect on various revenue streams.
"It wasn't a huge surprise, I think, starting with having to replace the coach mid-year and honour his contract," said Pierson. "Obviously the coaching change was made because we weren't getting the desired results, which hurts attendance, your concession, your 50/50 and everything else associated with it."
But the move to Spectra Place has opened new revenue streams for the Bruins, ranging from increased attendance and 50/50 money to a plethora of new sponsorship opportunities.
"I probably would be more troubled by it if I didn't know we've made such a huge turnaround on the financial side, with the increased season ticket sales and our new 50/50 and increased board revenue and everything that goes along with that. If we were sitting with that kind of deficit with no answers to it, the hockey club would have a lot to worry about," Pierson said.
Marketing manager Becky Tait spoke at length about what the arena move has meant for the Bruins.
The team gave up concession and beer revenue, which was "quite a financial loss for us," Tait said, but they own the ads on the ice surface, boards and stairwells and were also keeping the board ads at the Civic Auditorium as well.
The Bruins also had to raise more than $100,000 to build their new dressing room, and Pierson said the corporate community and Bruins Alumni stepped up admirably.
The team started its season ticket blitz in February and is now up to nearly 700, a gain of more than 50 per cent. The goal is 900 for next year.
The Bruins have embraced their new facility with elaborate in-game entertainment, ranging from pre-game to intermission events.
Tait said the team "wanted to create not just a game, but an event" and "wanted people to feel like they're at a show."
In fact, Flin Flon Bombers head coach and general manager Mike Reagan has contacted the team to ask about how they pulled off their spectacular pre-game 小蓝视频 on opening night so that the Bombers can replicate it.
"We've been thrilled with our crowds. We have not had a crowd under 1,000 people this year," Pierson said.
"Spectra Place has opened up a whole different stream of revenue for this hockey club."
The team expects that trend to continue, given their early on-ice success this year and the fact that the squad has several local players taking on significant roles.
"They're a skilled hockey team, but they're a character hockey team. I'm extremely proud of that fact. We've kind of been on the other side of that fence, but this is the side I want this team to be on. That's one thing that's impressed me about Keith right off the start. He's clearly stated that character supersedes talent," Pierson said.
"The young, local talent we have puts it on another level. These young kids aren't just third- and fourth-line players, they're major contributors to the success of the hockey club."
