For the first time in a long time, the Lethbridge Hurricanes held a rather uneventful Annual General Meeting. In fact not once in two hours was the word "sale" mentioned.
The biggest part of the evening was the Auditors Financial Report for last season (2014-15). It showed the Hurricanes lost $486,253 last season. That's on top of the more than $390,000 loss the club took the season before that. On a positive note, the Canes have revamped their budgeting process and have come back with a very realistic and achievable goal this current WHL season of making a profit of just under $150,000.
In fact Business Manager Terry Husiman told shareholders he was able to find $100,000 in expenses to cut prior to the budget being put together and then found an additional $100,000 to cut after the budget was drafted.
Media spoke with Hurricanes President Doug Paisley (he was re-elected to the Board at the AGM). His thoughts you can listen to below:
Here are some of the highlights from Monday's Hurricanes AGM:
* The financial from last season show a loss of $486,25. Loss mainly due to over-budgeting on ticket sales and game night promotions.
* The Hurricanes have budgeted for a profit this season of close to $150,000
* Canes used money ($183,000) from team's Education Fund to put into general revenue. Team said it had paid "education costs" the past two seasons so it was allowed take money from the education fund to pay back the money it had given from general revenue.
* President Paisley says Hurricanes are working on a good partnership with the City of Lethbridge and ENMAX Centre
* Paisley says WHL Commissioner Ron Robison is happy direction the club is now going under current leadership
* Business Manager Terry Huisman says team is close to 2000 season tickets right now
* Hurricanes now selling new "Par Value" shares at $1000 each
* Main reason for the shares is to raise additional revenue for the club so it doesn't have to relay on borrowing money to operate in the future
* Hurricanes have about 2200 shares total, but only 900 shareholders are considered active
* GM Peter Anholt says team will be a lot more patient and develop these players and work really hard with the current group
* Six positions up for grabs on Hurricanes Board. Former President Brian McNaughton resigned leaving a total of six spots open. Six people were announced to be running. All were acclaimed including: Doug Paisley, Dave Olsen, Brent McDowell, Ryan Tunall, Blaine Hyggen, and Darren Stocker.