Canadian Basketball Looks Up
In the summer of 2007, Wayne Parrish was hired as the new executive director Canada Basketball. He stepped into a pitfall. The organization was in tatters, chugging a $1.3-million dollar deficit of an annual budget of $3-million. The teams themselves were just as desolate on the international stage, alienating some of the country’s best performers in Steve Nash and Jay Triano.
The reality was that Parrish was not in a bargaining position. And yet his organization direly needed money, so he found himself cozying up to the people at Maple Leaf Sports and Entertainment Ltd—businessmen keen on making money, not giving it.
“There was no case I could make or that they would buy that could convince them that we were a good place to spend their money,” Parrish reflects.
But finally a deal was made between the sporting organization Scrooges and Canada Basketball. It was for about $350,000 over three years, and became the financial life support of the national sports organization. Parrish confirmed: “We did the deal just after I took over, and things were incredibly grim. We didn’t know if we could meet payroll or pay rent. Every day was day to day.”
Fortunately, Parrish was able to capture the interest of MLSE, who could afford to invest and undoubtedly saw the benefits in aiding a national sporting venture. One of the richest organizations in the sporting world, MSLE owns the NHL’s Toronto Maple Leafs, the NBA’s Toronto Raptors, the Toronto FC of the MLS, and the Air Canada Centre. The result is a net worth of over $1.5-billion dollars.
Despite large debts, Canada Basketball has managed to make extraordinary improvements under Parrish’s watch. This entailed a slew of cutbacks and a more efficient distribution of work. In three years, the organization went from a staff of 18 to eight. MLSE money kept operations running, until deficits were reduced to $800,000.
Parrish appealed to the federal government for money for national sports teams, an effort that reaped rewards last March when $6-million in annual funding was secured, winning Canada Basketball $600,000. Support sustained by Raptors’ president Bryan Colangelo likewise persuaded Nike to offer an additional $250,000 over four years, in return for providing necessary equipment and gear for teams.
But more important than anyone’s ability to sell a national team has been their own performance on the floor, which sends a message to potential corporate sponsors. With economic gains and business partnerships, Canada is one of just six nations to qualify for all four world championships this summer. More than that, the under-17 team won bronze in Germany last week, the fourth medal ever won for Canada on the world stage.
As it stands, the MLSE is even willing to offer more help. They are in the process of approving a three-year agreement with Canada Basketball for about $1.5-million.
MLSE executive vice-president Tom Anselmi clarified: “We helped them a few years ago, but that was really just to help them balance their books, it was to help them start in the right direction under Wayne.” Both Anselmi and Colangelo currently hold seats on the Canada Basketball board of directors.
Anselmi continued on about the Canada Basketball’s improvements and their dedication to the organization: “But we really like what we see. All the sports we’re involved in are looking for us to take a leadership role and we feel it’s part of our role as a good corporate citizen and they each have different challenges, but Canada Basketball probably needed our help the most, and that money can have a material impact.”
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