The Lethbridge Hurricanes held their 2010 Annual General Meeting Wednesday night at the Ramada hotel.98 shareholders attended the meeting. It wasn't near the 218 people who came out last year, but it was still a decent crowd. This year's AGM sure wasn't as lively as last year's either, but here's a bit of play-by-play on what took place. I guess the big story was the substantial financial loss for the organization this past season, as the Hurricanes lost $260,202. There are a number things that factored in to the deficit which I'll get to in a second. It was also mentioned that Richie Sutter is no longer with the team. Here's the run down on the meeting:
* The Auditor's Report
As mentioned, the Hurricanes lost over $260,000 in the 2009/2010 season. Ticket sales were down, souvenir sales dropped, less revenue from the Hockey Hounds, and of course no playoffs.
President Brian McNaughton told me after that several factors figured into the loss. He says attendance was down 18% from the previous season, the on-ice product wasn't good, money from sponsorships was down, and the ENMAX Centre renovations had a bigger impact than expected. He says the team must get better on the ice in order to prove to Hurricane fans that it's worth buying a ticket and coming to the games.
* Shareholders Report
George McCrae gave a shareholders report. He says the board has made up a complete shareholders list and that each share has been reviewed. They've also produced a mailing list and there is a plan to have a shareholder's table at some of the home games this season.
*On Side Committee Report
Parrish Hanelt says the committee has raised $223,000 over the past five year's with the annual Celebrity Sports Dinner. $60,000 was raised at last year's event. All the money raised is donated back into the community in Lethbridge. The next dinner is planned for November 26, 2010 at the Coast Lethrbidge Hotel and Conference Centre.
* Communications Report
Dick Gibson was unable to make the meeting so his report was given by George McCrae. The board last year set up an email address so shareholders could send any comments or concerns they might have and then have those emails addressed by the appropriate people. Over the past year, the board received 191 emails, ranging from people looking for jobs to general questions to the board. Last year, the board felt it was necessary to improve communication with Hurricanes shareholders.
* ENMAX Liaison Committee Report
Dave Olson reported that the renovations are on-time and that the building will be ready for the Hurricanes home opener October 8th. Construction at that time will be about half done. Fans will notice new walkways, entrances, concessions, and new washrooms when the building opens again in a few weeks. The video score clock proposal will be heading to Lethbridge City Council August 30. It will be one of the final things to go up at the newly renovated facility. The clock is expected to look similar to ones currently in Brandon and Saskatoon.
* Finance Committee Report
This caught the most attention from those in attendance. Auke Elzinga reported that the ENMAX renos impacted revenue and poor attendance was also the result of poor on-ice performance from the team. The organization hired Jim Bradley as the new Business Manager. Elzinga said the Hurricanes are, "not broke, are not financially destitute, and the future looks good", despite the large loss this past year. The Hurricanes have budgeted an overall loss of just under $100,000 for the upcoming season. A number of people were upset that an organization would budget for a loss, but Elzinga said that is "very realistic". President McNughton stated to me later that the board had been accused in the past of not being open enough. He says this is a realistic budget. Elzinga also said the Hurricanes have budgeted for 2200 season tickets to be sold for this season. At this time, they have 1600 tickets sold for the upcoming year, something Elzinga said is "a work in progress."
* Business Manager's Report
Jim Bradley talked briefly with shareholders. He gave an overall background of his previous business experience. He did mention the Canes' will be getting a website overhaul. The CHL is going to one standard wesbite that all teams across the WHL, OHL, and QMJHL will use. Bradley agreed the Hurricanes current site needs work. Overall the new guy seemed to be well received!
* General Manager's Report
Rich Preston announced that Brad Robson has now come on full-time with the hockey club after retiring from the Calgary Police Service. He also mentioned that Richie Sutter will no longer be with the team. Sutter has decided to move on to other things as Preston says, "he's got a few other irons in the fire". He says Sutter was "invaluable" to him over the past year and will be greatly missed. Preston reiterated that this year's camp will be competitive and they will be a better team just because of the experience with 19 players coming back and some young guys knocking at the door.
* Board Elections
Shawn Hass and Keith Hitchcock decided they would not be running again. Three incumbants had their terms come up again, so there were five positions available. Bill Sokol threw his name into the hat, so a vote took place between 6 people for 5 positions. Elected to the Hurricanes Board of Directors were: John Koliaska, Duane Ptycia, Rick Braden, Jim Whitaker, and Don Clark. Sokol was the odd man out in the voting.
So there you have it in a nutshell!
Thanks,
Pat
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So they blame the financial loss partly on a poor product on the ice "ya think " Yet Rich is saying we have 19 returning players we will be better..I hope he has a open mind and if prospects have the potential they make the club.
ReplyDeletek.s.
Thanks for the good summary, Pat. Was there any discussion about the (seemingly not so well conceived or received) "Hero" ticket package at the meeting? - Richie.
ReplyDeleteActually Richie, no. There were a few questions to Jim about the Callaway golf promotion for season ticket holders, but that Heroes deal never came up.
ReplyDeletePat
Once again the "Board Bashers" had their chance for new blood on the board, but with only 98 shareholders in attendance last night (less than half of last year's)the opportunity was still there. Nothing developed. The 3 board members seeking a new term, were re-elected, along with Don Clark and Rick Braden,both have been on the board before.
ReplyDeleteSo, to all the board bashers, it is high time to put your efforts into supporting the team.....the players in a positive fashion. You have all that negative engery to put to use positively. Certainly we do not all agree with what has been done with this board and many of its predecessors. But ultimately it comes down to supporting the team and the players.
As for Rich Preston having an open mind, well I think he is very open minded especially when he considers the wealth of young talent he and Brad Robson have accumulated, with some of them having a good shot at making this team.
RJ
Once again the "Board Bashers" had their chance for new blood on the board, but with only 98 shareholders in attendance last night (less than half of last year's)the opportunity was still there. Nothing developed. The 3 board members seeking a new term, were re-elected, along with Don Clark and Rick Braden,both have been on the board before.
ReplyDeleteSo, to all the board bashers, it is high time to put your efforts into supporting the team.....the players in a positive fashion. You have all that negative engery to put to use positively. Certainly we do not all agree with what has been done with this board and many of its predecessors. But ultimately it comes down to supporting the team and the players.
As for Rich Preston having an open mind, well I think he is very open minded especially when he considers the wealth of young talent he and Brad Robson have accumulated, with some of them having a good shot at making this team.
RJ
Here's the problem with having a board. Nobody cares about the finances. Nobody loses anything. Where is the incentive to make money. Where is the accountability. Where is a plan to get buts in the seats. We never have had a plan when it comes to making the enmax the place to be. Currently is serves as a glorified babysitter and place for people to spend their last years on this planet. The best marketing the Canes have now is outdated 2008 or 2009 "clean slate" posters on garbage cans. Great marketing job promoting the fact that the team was a glorified expansion team then leaving those embarrassing posters up long after the expiry date. The season is coming up and they have done nothing to promote this fact. This example shows how much business sense this organization has. Try to find a jersey for kids. They have infant size then the next step is a jersey that fits a 8 year old. This is the fan base you want to build and nobody seems to notice. There is no red retro jersey. Nobody cares about giving the fans what they want or the bottom line. Really, merchandise sales are down? Please hurricanes, operate this team like you want to make a profit. It will translate to more fans and better performance on the ice if there are expectations. With the college right next door there is no reason we can't fill empty seats with kids who will spend their discretionary income at the games. I was a corporate sponsor in the past but found out that the Canes were buying from my competition who were not supporters. Do you think I renewed my support? Learn to treat this team like a business and not a hobby. The fans and business community will come to the rink. Until then the expectation and acceptance that the team will run at a loss will continue. This is in no way a critique of the players or whether we should or should not support them. They are the ones who have to play in front of 1500 fans on a wednesday night game.
ReplyDeletethe anoymous post at 10:33 was well said very good points..
ReplyDeleteM.E.
I have to say that I find it somewhat humorous that two of the three men who did the most complaining last night about the financial loss last season consist of one who works for the WHL and therefore doesn't buy tickets and sees the games for free, and a gentleman who (last time I checked) had decided not to purchase season tickets. They want the board to be held responsible for the reduction in season tickets and the revenue lost as a result but what are they doing to contribute to the season ticket base?
ReplyDelete-cc
I agree with the last comment. Those who complain the loudest are either non season ticket holders or shareholders whom refuse to support the club, ie. season tickets, advertising, and promotion or those who get into the games for free. The boys thank you for your support!!! (laugh). Me thinks the kafuffle is from those who desperately wannabe board members and think they should be running the club. Ah, some are never satisfied. Also Richie Sutter "declining comment" leaves an aura of suspicion in the air. Nothing could be further from the truth. Richie is a big boy, was made an offer, accepted, then resigned to pursue other options. That is Richie's right to pursue what is in his best interests. Note the Hurricanes organization has had nothing but good things to say about Richie so what is his point of him declining comment. Here Here to RJ's comments. Time for the naysayers to put THEIR money where their discontented mouths and minds are.
ReplyDelete