(Marc Smith/DiscoverMooseJaw) On-ice success led to a big year off the ice for the Moose Jaw Warriors.
The organization held its annual general meeting on Wednesday at Mosaic Place and the team reported a net revenue of $704,182 during the 2017-18 season.
“When you look at the roster last year, everybody knew we had a good chance of making a run for it, unfortunately there are no guarantees in hockey, but it turns out that we had a great year financial with the support from the fans in the playoffs, what the Booster Club does and some good management on (General Manager Alan Millar’s) side,” said Chad Taylor, Moose Jaw Warriors’ president.
With three straight trips into the post-season, the Warriors have been able to build up a bank balance of $1,157,466, which is after the team spent $233,648 on new boards and glass at Mosaic Place coming into this season.
The Warriors have invested over $750,000 into the downtown facility over the past three years with improvements to the speaker and lighting systems two seasons ago.
“Next year, you’re going to see our profit come down based on our expense of what the boards and glass were, but the beautiful thing is the balance in the bank account,” said Taylor. “The club continues to thrive, is meeting its obligations, the staff and players are being well looked after, and we’re just continuing to grow.”
The Warriors’ financial situation has continued to improve each season since moving into Mosaic Place and Taylor speculated that this past season only rivals the first year in the new building in terms of financial success.
While moving forward with caution due to pending legal cases against the Western Hockey League regarding players’ amateur status, Taylor feels that the team is in a good position going into the coming years.
“When you look at our organization, we’re doing the right things and the club continues to thrive and is doing a good job,” said Taylor.
The Warriors’ Booster Club had a record-setting season in 2017-18 as they brought in $336,889 in revenue for the club through the 50/50 draws, which included seeded draws for the first time in franchise history.
In total, the team paid $854,814 to Mosaic Place and the City of Moose Jaw through rent ($202,690), signage/suite revenue ($443,124) and Multiplex pledge commitment ($200,000), which is now in the seventh of ten years.
The Warriors paid out $168,343 for a total of 27 players using the team’s Education Fund last season, which included $6,828 for players on the 2017-18 roster.
The team’s Education Fund has $190,744 on hand heading into the 2018-19 season, which includes the $86,000 raised during July’s Alumni Men’s Golf Tournament. During Wednesday’s A.G.M, shareholders voted to transfer the $113,283 in the team’s Legacy Fund into the Education Fund.
Dave Kiefer and Darrell Markin were reelected to the board and Robert Walchuk will be joining the board as a new member. No vote was needed to fill the three spots with just three nominees.