Want to own a junior team? – WHL’s Swift Current Broncos Selling Stock
Junior Hockey is a big business, its also a very expensive business to operate. It combines service, entertainment, marketing, promotion, and player development amoung a host of other business aspects.
Major Junior Hockey in Canada is perhaps one of the most complicated business models in all of sport. While it is a business unto itself, it is also the training ground for another business, the National Hockey League.
Between the 2011 and 2012 seasons Swift Current announced losses of roughly $250,000.00 They are not alone in those announcements as teams throughout Major Junior Hockey have announced losses.
The WHL’s Lethbridge Hurricanes’ announced a loss of $602,000 from the 2011-2012 season, which added up to $1.25 million over the past three seasons. QMJHL’s Rimouski Océanic lost roughly $100,000 in the 2011-2012 season as well. This does not represent all losses, but gives you an idea of how expensive it can be to operate a team.
Swift Current may have a piece of the solution. Selling shares of the team. Here is the release:
The Swift Current Broncos Hockey Club is proud to announce “Saddle Up For Success”, a new membership campaign drive put in place to generate additional members.
“This is a significant step in the actualization of the Strategic Plan we brought forward and it’s also responsive to what we heard at our Town Hall Meeting last year. People want to be more than just fans they want to be part of “Bronco Nation” itself,” states Chairman of the Board, Liam Choo-Foo. “As we try to fulfill our mission of being sustainable into the future, it’s critical that we have vibrant membership going forward.”
All members hold a vote at the Annual General Meeting, provide influence on the organization through the Board of Directors and receive a charitable tax receipt issued by the City of Swift Current.
“I certainly acknowledge those people that stepped forward over 25 years ago as the original members, but as time has gone on we have lost a majority of that membership and it’s now down to less than 100 people,” says Choo-Foo. “We would like to see it renewed and bring in new energy and enthusiasm as we go through this whole renewal of the Bronco organization.”
Membership is open to all individuals and businesses. The membership is a one-time fee of $2,000
Applications are available at the Broncos souvenir store, The Stable, or by clicking HERE.
A short term solution to a long term problem? Maybe, but at least they are giving the hockey community an opportunity to get involved financially and through that having a voice in their team.
Will this create a trend? The success of any program is usually one that is copied. Lets hope Swift Current has great success and they share the outline of that success with other teams that are struggling.
TJHN will update this story as more information becomes available.