Bonnyville Pontiacs look to bank loan to help with restructure
The Bonnyville Pontiacs are in need of some help. Representatives from the AJHL club were on hand at Bonnyville Town Council as well as MD council to ask for help with a bank loan from the Lakeland Credit Union. The loan will see around $300,000 sent to the Bonnyville and District Sports and Recreation Society, the board in control of the Pontiacs. The town as well as the municipal district must guarantee at least $150,000 of the loan will be paid back.
Director of Business Operations Robb Hunter says money is needed for a variety of reasons, including the local economy and some past debt the team is looking to get out of.
“That certainly played a factor in it. We think that last year the team was able to be fairly financially stable. This is more about re-financing some debt that the team has generated over the last few years.”
In a statement of revenues given to town council, admission numbers are down from last year and the cost to travel is up. Hunter says he’s hopeful those numbers will be different for the 2018-2019 campaign.
“Certainly we’re hoping that we’ll have a good summer of selling season tickets and selling sponsorships. We know how passionate this community can be when it comes to hockey.”
Hunter says the board has seen some shake ups when it comes to personnel. In the meantime, the loan will be advertised to the public and brought back before a final decision is made in Bonnyville Town Council.