Just over two years ago, the Weyburn Red Wings were in dire financial straits. It looked like the 2014-15 season may be the last for the storied junior A franchise. Now, the team is back on solid footing and continues to have a bright future ahead of it. This all coming from the team’s annual general meeting, which was held Tuesday night in Weyburn at the Ramada.
The team is set to break even for the 2016-17 season. While this is down slightly from the previous season where there was a healthy profit of just over $14,000, no one is ringing alarm bells, as the stability, the boards of the past three years have been trying to get in place continues to grow.
The final numbers haven't been released yet, as MNP hasn’t completed their annual audit, which is to be completed six weeks after the close of the fiscal year, which is May 31st. The numbers which were presented by the auditing firm were still very positive for the team.
The run in the playoffs this year is seen as the major contributor to the team’s financial standing, as they played in the survivor series, and the quarterfinals before bowing out to the eventual champion Battlefords North Stars. The additional four home games of revenue pushed the team above the breakeven point.
The meeting also saw the members, and the board adopted a new set of bylaws. The decision came when a review of the previous bylaws, considered unwieldy and outdated by many, was conducted. The old bylaws were also in contravention of The Non-Profit Corporations Act in a few places.
“Definitely had to bring ourselves up to code with our new bylaws,” said team president Brent Stephanson. The bylaws, along with new policies and procedures which will be drawn up, will allow the future boards which govern the team, to have everything laid out in front of them, with little guesswork needed, Stephanson added.
The new board of directors was also elected, with five members elected to a one-year term, and five elected to a two-year term. Returning to the board was Brent Stephanson, John Corrigan, Marc Schneider, Michelle Giroux, Shawn Crandall, Peter Tatarliov and Scott Pohl. New to the board this year is Doug Lumb, Lee Moen, and Doyle Larson. At the AGM, the board held a quick meeting to elect the president, vice-president and team governor, with Stephanson remaining on as president, Corrigan as vice-president, and Schneider as governor. The election of a secretary-treasurer and alternate governor will be held at the next scheduled board meeting.