Make it 18 years in a row that the Kitchener Rangers have turned a profit.
The team announced a profit of $22,165 for the 2012-13 season at its annual general meeting tonight at Rockway Mennonite Collegiate (where GM Murray Hiebert once taught math, among other subjects).
The Rangers made $551,625 a year ago. The dip this past campaign was due mostly to the $9.6 million loan the club got from the city for renovations to the Aud. Paying back the loan and interest puts a dent in your profit margins.
But it's still impressive that the team was on the plus side all things considered.
Other tidbits from the annual report, that may be of interest:
- The team estimates it owes about 1 million in scholarships to current and former players.
- Total revenues in the last year were $6.17 million.
- Playoff profit was down about $67,000 from 2011-12 to $316,419, due to an earlier exit from the post-season.
- The team donated $394,800 to charity.
- If you think you're seeing more Rangers' gear, you are. Sales at the team's store were at an all-time high last year at $470,000.
So the added seats helped ease the demand for season's ticket subscribers.
The Rangers added about 800 new annual subscribers in the past year. The scary part? The waiting list for more yearly subscription's is already back up to about 800.
Sounds like a good problem to have.
There were more renos at the Aud during the summer. The team will unveil a new history room, in the old Don Cameron room, that will showcase, wait for it, the team's history.
I'm told it will be ready to tour on opening night.
Beer will now be available in all seats at the Aud. It's a one-year pilot project.
The goal was to reduce congestion on the concourse and to reduce binge drinking. Extra security will be added.
The teams says it found that incidents didn't increase despite allowing drinking in the new blue seats this past season.
Interestingly, COO Steve Bienkowski mentioned a small difference between ex-GM/coaches Peter DeBoer and Steve Spott. The latter, he said, put more emphasis on getting players to the NHL, whereas DeBoer focused more on building the team.
Bienkowski also aluded to the fact that he felt the Rangers were on par with other clubs in developping their elite players but were perhaps a bit behind on development on depth players.
That was part of the reason the club brought in new assistant, and former NHLer, Mike Van Ryn as an associate coach.
Bienkowski said fan John Cosman, whose $100,000 lawsuit against the Rangers was dismissed as part of a settlement, has not been reinstated as a season's ticket holder.
Goalie coach Piero Greco has left the Rangers for a post with the Toronto Marlies. Kain Tisi takes over.