Broncos Release Statements from Annual Shareholders Meeting

The Swift Current Broncos Hockey Club released their financial statements from their 2010/2011 season along with results from an Economic and Social Impact Assessment which was conducted over the past two seasons at their Annual Shareholders Meeting.

The Broncos announced a financial loss of $197,226.  The loss on the Hockey Operations side was $882,587, but additional revenues in Corporate Sponsorship, Corporate Suites and Fundraising provided closed the gap partially. 

Corporate Sponsorship for the 2010/2011 season remained relatively the same, while fundraising was able to generate more than $192,000 which was a $28,000 increase from the 2009/2010 season.  Ticket sales, per game attendance and season tickets decreased during the 2010/2011season.  Notably, per game attendance dipped from 2,197 to 2,135 which is the second consecutive season that per game attendance has decreased.  The Broncos noted that an increase in ticket sales is necessary for the long-term success of the franchise.  The Broncos saw a significant increase in profit out of the concession at $25,000 compared to the 2009/2010 season of $10,805.  On the community side, the Broncos raised $37,611.71 for nine different charities (notable community projects, included a Movember campaign that raised over $15,500 for male cancer research, a “Beat Breast Cancer” night that raised $6,400 for the Canadian Breast Cancer Foundation and a Saskatchewan Roughrider Night that raised $8,300 for Swift Current Minor Football and Hockey).

The Broncos also announced that an Economic and Social Impact Assessment was conducted through collaboration with the Board of Directors, operational staff and the Edwards School of Business MBA Program at the University of Saskatchewan over the past two seasons.  Using the Sports Tourism Economic Assessment Model, it was determined that the total yearly economic impact of the Broncos on the community of Swift Current was $6,174,099.16.  Of considerable note was the identification that the Broncos bring $2,252,531.00 of “new money” into Swift Current yearly.  The Study also revealed how strong the Broncos pro rata economic impact is on Swift Current.  Other specifics of the study will be released to the public at a later date.

The Broncos also touched base on their new Strategic Management Framework.  This is a document that defines a step-by-step guide of how the Broncos are going to achieve long-term franchise viability and be recognized as a premiere franchise by breaking down the organization into three defined lines of business (Hockey Operations, Business Operations and Franchise Enhancement) then tasking all three with very specific Revenue goals.  The Strategic Management Framework is a process that the Board of Directors has worked on for over a year and is now in the operational stages of development.

While the organization continues to work towards increasing revenue in all areas, they also have been implementing and updating several initiatives that will be put into place this season, including:

• Early Bird Walk Up Prices:  An addition of a Family Rate and changing the deadline to 5PM on game days (as opposed to the day before).
• Revamping all fundraising projects including the volunteers involved, idea generation and execution of events.
• Additional Season Ticket  Holder benefits
• Introduction of additional themed game nights

              o   Two Two Twosdays and Living Sky Casino Vegas Nights on Fridays

• Adopt-a-School Program, a free kids club and a newly developed structured reading program to take place at schools in the Southwest region

“It’s always difficult to go to your membership and tell them that you lost a significant amount of money,” states Alternate Governor and Chairman of the Board, Al Stewart.  “But, that being said I think we are building a team here that can be very good in the future and we just hope that our fans will hang in there with us as we develop these players.  They are the future.”

The Broncos would like to thank all of the loyal fans, shareholders and businesses for their continued support.