Titans owner in for long haul, but open to offers of help
Ticket sales for Kitchener-based Basketball Super League team’s games at the Aud are heading in the right direction but remain short of where they need to be, says David Schooley
David Schooley remains committed to the Kitchener-Waterloo Titans, even while pitching the idea of sharing ownership of the Basketball Super League franchise.
The local real estate broker raised the possibility of taking on a partner or partners while discussing whether the team’s on-court success (first place in the standings with seven regular-season games to play) has translated into improved ticket sales.
The short answer is yes, although the numbers remain short of making ownership a break-even proposition.
“We’re well ahead of last year, and last year was up quite dramatically over the previous season, so we’re getting close … we’re seeing results,” said Schooley, a corporate sponsor since the Titans’ first game in 2016.
“I have to be honest though, I might be looking for someone else to come in and share the experience with us for next season.”
The Titans, Schooley said, have averaged “about 1,200” spectators in their 14 games this season at the Kitchener Memorial Auditorium, a total that is closing in on 17,000 with six home dates remaining.
The numbers are an improvement of “about 60 per cent” over the 2023 season, said Schooley, but still short of where they need to be.
“If I had 400 to 500 more gold ($27) or red ($22) seat fans (per game) out there, that would be a break-even point for us,” he said.
Ticket sales, sponsorships and merchandise sales are the team’s only sources of revenue, said Schooley, who employs 25 people, including players. A similar number of volunteers are also called upon, especially on game days in Kitchener.
The biggest expenditures are salaries, accommodations in executive rentals, travel costs and facility rentals. The Titans play all their home games at the 7,000-plus seat Aud and practise at Cheer Sport Sharks gym on New Dundee Road.
Schooley declined to provide financial numbers, citing nondisclosure agreements in some cases, but did pull the curtain back slightly on the team’s expenses.
Player salaries, he said, are “likely
the lowest” in the six-team Basketball Super League (BSL) and are short of the $180,000 cap the team was restricted to while playing in the now-defunct National Basketball League of Canada (NBLC). The BSL, in its first year of existence, operates without a salary cap.
As for travel, the recent road trip to Montreal cost $5,000 for bus alone, with hotels and meals bringing the total to about $8,000.
That game was played on March 31 and the Titans won’t play again at home until Saturday night against the Jamestown Jackals.
“So, between those two weeks, I’m paying salaries and accommodations and company vans, and all those other things, and there’s no money coming in,” said Schooley.
Schooley and his wife, Kate, bought the Titans from Woolwich entrepreneur Leon Martin in November 2022 with a plan of making the franchise 100 per cent community owned within 10 years. Financial details were not released.
Martin was part of the original ownership group that launched the Titans in 2016.
The Schooleys have worked to raise the team’s profile since taking over, and believe they’ve done just that with initiatives such as the Titans Skills Academy programs at YMCA of Three Rivers locations in Kitchener, Waterloo, Cambridge, Guelph and Stratford.
Community groups and charitable organizations are also highlighted at home games. Upcoming events include recognition of the Salvation Army, Hockey Helps the Homeless, National Volunteer Week and the Children’s Health Foundation. The Titans have also improved their social media game by adding Natasha Ahuja as the team’s digital marketing manager.
While open to the idea of taking on a partner, Schooley insists he has no plans to sell the team outright, even while saying with a laugh that the team has “delayed retirement plans by five years.”
“When we look at the success we’ve achieved over the last season and a half, I don’t know that I’d be willing to just step away,” he said. “We’re going in the right direction.”
From a basketball perspective, Schooley marvels at the job being done by Titans head coach/ assistant general manager Cliff Clinkscales in assembling a talented group of players who excel both on and off the court.
“The culture is really important here and that’s why we can have what I think is the league’s lowest team salary and be in the No. 1 position,” Schooley said.
“I gave Cliff the challenge of working with a smaller budget than other teams and he rose to the occasion.”
Dee Barnes and Marque Maultsby have both made impacts as first-year players, and Curtis Hollis is the league’s second-leading scorer, averaging 24.3 points per game.
The Titans also recently added Braylon Rayson, a former NBLC most valuable player with Sudbury Five, after Jaylon Tate left for a higher-paying opportunity in Romania.
The Titans resume their schedule on Friday night in Windsor, and then play six straight games at the Aud, starting Saturday against the Jackals. The final regular-season game is May 1 against the Cincinnati Warriors with playoffs to follow.