The La Ronge Ice Wolves have an operating budget of $1 million annually. (La Ronge Ice Wolves)

By Derek Cornet

benefit

Report shows Ice Wolves have substantial economic impact on La Ronge

Sep 20, 2023 | 2:59 PM

A financial and economic valuation report on the La Ronge Ice Wolves shows the Saskatchewan Junior Hockey League (SJHL) team has a large impact on the town.

The report, which was completed by Jim Thiessen of JHT and Associates Consulting, shows the Ice Wolves had a combined total financial and economic value of nearly $3.6 million. In 2023, the team spent $1 million of which $866,000 was spent directly in the community.

That number includes salaries for coaches and other staff, billet fees, and operating expenses such as paying for the bus, fuel, equipment and other items like raffles and 50/50s.

“The first part takes a look at how much the Ice Wolves spend within the community and we determine that by going through their financial statements,” Thiessen said.

The report also shows an indirect benefit of $537,000, which is determined by the number of nights visiting teams stay in La Ronge, as well as projected spending by fans on tickets, meals and concession items.

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In addition, volunteer hours by players, as well as the cost of the franchise, comes up to $451,000. The Ice Wolves volunteer at many community events, including at local schools and with minor hockey.

There’s also a spinoff value created by the team as part of the economic multiplier of money, which has a benefit of $842,000.

“When you spend a dollar in the community of La Ronge, the person who keeps that dollar pays another salary, they buy goods and services locally, and that’s the multiplier effect,” Thiessen said.

Thiessen has completed such reports for all SJHL teams, as well as a league in the Maritimes.

Ice Wolves board member Randy Johns explained in the last eight years, the operating budget has risen from roughly $500,000 to $1 million. He noted the Ice Wolves are a Junior A team and bring with them an elite level of hockey that has a substantial impact.

“When you take into account all of that money spent and the impact it has in the community, I really wasn’t surprised to see it come in at that level,” Johns said.

“I think it’s maybe not fully understood the impact and that’s one of the reasons we did the economic impact study.”

The full financial and economic valuation report can be found online here.

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derek.cornet@pattisonmedia.com