Warriors bare financial soul

Photo: Wayne Moore/file

Saying he wants to "dispel any rumours regarding the financial health of the (hockey) club, the owner of the West Kelowna Warriors has laid out the teams financial statements for all to see.

In a news release issued late Friday night, Kim Dobranski says the BC Hockey League club, which admittedly lost hundreds of thousands of dollars over the previous decade, showed a loss of slightly more that $59,000 under his first year of team ownership.

Dobranski assumed control of the Warriors from previous owner Mark Cheyne in August of last year with the team in danger of moving or folding.

While admitting to some challenges last season, which included the firing, rehiring and later the firing of head coach Geoff Grimwood, a player revolt over the initial firing, and now two lawsuits brought forward by Grimwood and his former business partner Xiaorong Liang, Dobranski says staff and volunteers "worked incredibly hard supporting our efforts to grow the fan base, reach more sponsors, and have a greater participation in the community."

"There is always an element of cynicism towards public organizations as many believe the efforts to support the club is “all about money," said Dobranski in the email.

"To counter this I have made our P&L (profit and loss) statement public to restore confidence in the community. As a disclaimer there are still some adjustments in categories as everything is currently being reviewed, but the net revenue will not change."

The statement claims the club brought in revenues of $1,243,117.09 during the year ending July 31, with expenses of $1,302,476.88.

That left a net operating loss of $59,318.47.

There is no indication these figures have been fully audited.

"While this may seem like a disappointment, we are actually pleased when looking back to the heavy loses the club faced over the last 10 years prior.

"We certainly do not want to lose money as our goal is to break-even every year, and we are heading in the right direction."

In order to make up the shortfall this season, Dobranski says the team needs to increase attendance by about 16 per cent over last season. That would work out to about 133 adult fans per game, or 3,750 over the course of the regular season.

According to HockeyDB.com, the Warriors averaged 828 fans last season. Over their first two home games, the Warriors have brought in 1,371 fans, an average of 685 per game.

"I am of the belief we can do it, and we will continue to work to make it happen."

A link provided by Dobranski to the financial records no longer works.