Broncos Announce Financial Loss

Broncos AGM 2013

Dianne Sletten, Mark Lamb and Liam Choo-Foo

Interview with Broncos AGM & Director of Business Operations Dianne Sletten (Download)

Interview with Broncos Chair Liam Choo-Foo and Board Member Steve Kritzer (Download)

It was mixed news for the Swift Current Broncos in the board room.

While hockey related revenue went up across the board, they still had a cash loss of $13,535 in the 2012-13 season and took a paper loss of $135,000.

The paper loss refers to how much their future obligation to their education fund grew ahead of their revenue.

“What we’re trying to do is make sure that education fund is continually financed,” said board member Steve Kritzer. “We’re looking at that future amount that has to be covered.”

The board is happy with the general direction of the club.

“In terms of our overall plan things are moving forward,” said Chairman of the board of directors Liam Choo-Foo. “We’ve felt this rejuvenation and buy in not only from the club and team on our renewal plan, but Bronco Nation itself.”

Hockey operations revenue increased by just over $57,000 this past season with $46,000 more in gate revenue.  The organization also saw an increase of $45,000 in corporate sponsorship.

Attendance was on par with last year, but the Broncos saw increases in concession sales of $13,000, and in both alcohol and 50-50 sales.

With all those increases, the biggest reason for being in the red in 2012-13 was a $100,000 loss on last year’s Autumn Fun Fest Dwight Yoakam concert.

“We maybe aren’t big enough to be able to handle that size of an event with a world class performer coming in,” Choo-Foo said.

The board advised staff to move focus away from planning major events like that concert and back to increasing their attendance to the games itself. That doesn’t mean they’re giving up on the event management side.

“I would not say that we’re stepping back from it,” Choo-Foo said. “There were lessons learned. We certainly wouldn’t take on another large event like that without significant amount of corporate sponsorship to minimize our risk around it.”

The Broncos will still continue with other events they’ve managed before like the PBR and St. Patrick’s Day party.

“We can’t not do events,” said Broncos Assistant General Manager and Director of Business Operations Dianne Sletten. “We need that revenue to be sustainable. We don’t make enough money on the hockey operation side to run the operation.”

“We will continue to do some of our cabarets and other events.”

Sletten was pleased they limited their losses despite the hit they took from the Yoakam concert.

“The team that we have working really pulled together to make that money up,” she said. “We increased the corporate sales, we increased the gate revenue and that really helped us to not have a huge loss. I’m very proud of the staff for that.”

The Broncos also noted that ten new people have purchased voting memberships in the organization since they opened it up earlier this year.

“Our sense is it’s not over,” Choo-Foo said. “Every year we will be pushing this. I think ten is a real nice start, but it’s not the finished product. We estimated our membership has declined by 86 to 90 original founding members and that’s still our goal to replenish that and we’ll keep working at that.”

The Broncos have three home games in four days this week. That starts Wednesday night with the Saskatoon Blades in town. Regina is here on Friday and Prince Albert visits on Saturday.

You can hear every game on The Eagle 94.1 FM with our pre-game shows at 6:30pm and puck drop at 7:05pm.

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About shawnmullin

Play by Play Broadcaster for the WHL's Swift Current Broncos on 94.1 FM The Eagle.
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