Tuesday, 20 September 2016

Hurricanes Turn Nice Financial Profit of $197,000

Some very positive financial news for the Lethbridge Hurricanes. 

The hockey club held its 2016 Annual General Meeting at the ENMAX Centre MOnday night with 120 people in attendance.

The Hurricanes posted a profit this past Western Hockey League season of just over $197,000, a major turnaround compared with significant financial losses from seasons prior. Board President Doug Paisley says it's great to see. He says it's clear if you put a solid product on the ice, people are going to come and buy tickets, food, and drinks and that all translates into profitability. Even with that, Paisley gives a a good portion of the credit to the man in charge of hockey operation, General Manager Peter Anholt. 

Pailsey also notes those few playoff games last season made a huge difference for the team financially. He says each post-season game brings in roughly $50,000 in the early rounds and that can make a massive difference to a team's bottom line. About 120 shareholders attended the 2016 Annual General Meeting at the ENMAX Centre Monday (Sept. 19). The hockey club also budgeted for a profit of close to $92,000 this season, without the playoffs factored in. 

Business Manager Terry Huisman reported the hockey club increased revenues last season in every category and the organization is continuing to find new revenue streams as well. Last year's season ticket holders totaled 2150, which was an 11% increase over the season before. 

The team also elected three new members to its Board of Directors Monday night including Mike Wuchterl, Brodie Sheahan, Cheryl Lane. Re-elected were Tyler Brack & Reid Williams.

Here were some of the highlights of Monday's meeting as I posted on Twitter:

* The Lethbridge Hurricanes auditors report shows the hockey club posted a financial profit during the 2015-16 WHL season of $197,235.

* Compared with loss in 2014-15 season of more than $486,000, this past year saw a positive financial turnaround of more than $680k for Canes.

* The Lethbridge Hurricanes are budgeting for a profit during this upcoming season as well (2016-17) to the tune of roughly $96,190.

* Hurricanes GM Peter Anholt tells AGM there are "new expectations" with this hockey club after a very good season in 2015-16.

* GM Anholt says Lethbridge is viewed now as place where players want to come and play. Players & coaches big reason why the positive change.

* Anholt: "We've got an older team, a good team. There's no reason why we shouldn't be very competitive, right there in the Central Division."

* GM Anholt asked what are the chances of (D) Andrew Nielsen coming back after pro camp. Anholt: "Slim to none."

* Newly elected members to Hurricanes Board of Directors: Mike Wuchterl, Brodie Sheahan, Cheryl Lane. Re-elected: Tyler Brack & Reid Williams.



  1. Keep up the good work Canes!!

    Note that a risky and potentially tough situation exists... I see the Shareholders have elected Brodie, a good friend of Versteeg's... we cannot give too much power to Versteeg and his friends!!

  2. Attached is a link from the Hurricanes presentation to council asking for a letter of support to obtain a 600k grant from the Prov. Gov't. Of particular note is on the second page there is reference to a "Hurricane Foundation" which is the the process of being established. Could anyone, Pat, maybe determine just what the purpose of creating this foundation is for. Thanks.

  3. forgot the link. Sorry. http://meetings.lethbridge.ca/sirepub/cache/2/uk3scjuzbirvf4skn3jkmdpg/17151209242016091557941.PDF