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COVID-19 - ACC Status Update - June 5, 2020

By The Alberta Champions Cup, 06/05/20, 3:30PM MDT

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JUNE 5, 2020 | SECOND TRANCHE OF REFUNDS ISSUED + FINAL UPDATE

 

 

 

 

 

Please note that the following is a copy of the communication sent to the primary team contacts of applicable teams on the date noted below. Certain hyperlinks to connected forms has been unlinked from the publicly posted copy below to consolidate our direct communications to the intended primary team contacts.

 

 

June 5, 2020

To our teams,

 

This announcement is to follow up on our last communications dated May 13, 2020, respectively. You are receiving this email as you are listed as one of the primary contact(s) for a team or team(s) registered in the Alberta Champions Cup (“ACC”).

 

 

I) Second Tranche of Refund Payments Issued

As per the announcement dated May 13, 2020, the second tranche of refunds was processed and issued beginning June 5, 2020. Similar to the first tranche of refund payments, the amount processed for each team on the second tranche of refunds is proportionate to what each team has paid to date and the total funds available to be refunded. Additional details pertaining to the second tranche of refund payments have been outlined in the following sections. If your team’s refund(s) are being received through SportsEngine please refer to Section II. Conversely, if your team’s refund(s) are being received via Cheque please refer to Section III.

 

 

II) SportsEngine Refund Payments

Our account manager at SportsEngine confirmed that all of the refunds processed through SportsEngine have been successfully returned to the cardholders account listed on the registration profile. As such, apart from those teams who have specifically requested to be refunded by cheque instead of SportsEngine, the second tranche of refund payments will be processed in the same manner as the first. The amount(s) to be refunded to each team were sent to our account manager at SportsEngine yesterday and will be processed between June 5-9, 2020. Once processed, it can take up to seven (7) business days for the refunded amounts to arrive on the cardholders account – however, based on the first tranche of refunds, the vast majority of refunds arrived on the cardholders account within a few days of being processed by SportsEngine. Please refer to Section IV for details regarding the treatment and status of unrefunded balances as of June 5, 2020.

 

 

III) Cheque Refund Payments

All teams whose manager and/or primary contact have completed and submitted the payee information form that was emailed to them on May 6, 2020, were mailed a cheque for the first tranche of refund payments on May 11, 2020. At the time of writing this announcement, there are currently seventeen (17) cheques that have not cleared our corporate bank account. If you have received but not yet deposited the cheque that was mailed out, I kindly ask that you please deposit the cheque at your earliest convenience, as it is the easiest way for us to verify the mailing information provided on the payee form is correct. If you completed the payee information form before May 11, 2020, and have yet to receive the cheque that was mailed out to you, please call +1-833-242-6231 ext. 1 and leave us a message so that we can follow up with you directly to ensure the amount refunded on the first tranche are received as intended. For team’s who have already deposited the first refund cheque that was mailed out to them, the second refund cheque was mailed out this morning (June 5, 2020). Please refer to Section IV for details regarding the treatment and status of unrefunded balances as of June 5, 2020.

 

 

IV) Treatment & Status of Unrefunded Balances – as of June 5, 2020

With the second tranche of refund payments now issued, the treatment of the remaining unrefunded balance for each team is for now going to be converted into an Event Credit, which can be used towards team registration fees in any future event managed by Chance Consulting Group (The Alberta Champions Cup & Stampede Challenge). CLICK HERE for complete Event Credit terms & conditions.

  • Team’s Registered in both the ACC & SC – The remaining unrefunded balance from your ACC registration will be combined with the yet undetermined unrefunded balance from the SC (where applicable) and issued on a single Event Credit Voucher, which will be delivered to the manager and/or primary contact for your team once the refund process is complete for the SC.
  • Team’s Registered in the ACC only – The remaining unrefunded balance from your ACC registration will be converted into an Event Credit Voucher. For teams being refunded by cheque, a detailed registration refund receipt as well as the applicable Event Credit Voucher has been included with the second refund cheque that was mailed out this morning (June 5, 2020). For teams being refunded through SportsEngine, a detailed registration refund receipt as well as the applicable Event Credit Voucher will be emailed to the manager and/or primary contact for your team in the coming weeks.

 

 

V) Potential for Additional Refunds after June 5, 2020

As outlined in previous communication announcements, there are still ice deposits with two facilities that we have yet to receive refunds for due to the facilities not having the operating cash flows to provide refunds to us at this time. The balance to be refunded from each facility amounts to $15,845.76 and $22,468.75, respectively. In both cases, I have been told that once the facility reopens for public use and when operating cash flows permit, they could then potentially be able to issue refunds on our deposit(s). However, given the uncertainty of what the future holds post-COVID-19, I did not want to drag the refund process on for an undetermined period of time, hence why unrefunded balances are being converted into Event Credits for now.

 

If refunds and/or partial refunds are received on the noted ice deposits at any point between today (June 5, 2020) and next years Alberta Champions Cup (April 23-25, 2021), it will be immediately processed and refunded to teams in the same manner as the first two refund tranche payments were issued.

 

In addition to this, I am still in the process of applying for financial relief / credit financing from an accredited financial institution. Due to COVID-19 as well as the overall economic environment that we are all doing our best to navigate through, the due diligence performed before by any financial institution prior to extending any form of credit or financing has inherently increased, and thus takes longer to move through each step of the process. However, if we are successful in obtaining a reasonable amount of financing or credit, it will be immediately processed and refunded to teams in the same manner as the first two refund tranche payments were issued.

 

If additional amounts can be refunded in the future, new Event Credit Vouchers will be issued for the updated unrefunded balance (if applicable).

 

Lastly, I would like to take a moment to express my sincerest gratitude and appreciation for the truly unparalleled level of consideration and understanding that everyone has given through these difficult times. There have of course been some frustrations expressed throughout this process, which were fully warranted and understood. However, the overwhelming majority have offered patience and understanding to a degree that is beyond anything I could have possibly asked for given the circumstances. And although the current treatment of unrefunded balances will be received with reluctance from some, my hope is that the level of detail and transparency provided in every announcement throughout this process – as long-winded as they may be – will, if nothing else, demonstrate my unwavering commitment to do everything that I can possibly do and explore every potential option that would allow for additional refunds to be returned back to teams at some point in the coming months.

The honest intention behind converting unrefunded balances as of June 5 into Event Credits is to help close this ‘chapter’ of the process for the time being, as teams will be wanting to clear and close out their financials for the 2020 Spring Hockey season that sadly never was. And if I am able to deliver additional refunds to teams at some point in the future, my only request is for those managers and/or primary contacts who receive the refund kindly please distribute it back to the respective families of your teams, even if you’ve already split up and gone your separate ways for the Winter season ahead.

 

Until then, thank you for your ongoing support of The Alberta Champions Cup, please take care of yourselves, your families and assist those around you where possible – as it is those selfless acts of compassion that will ultimately be what is remembered from the snapshot in time that this half of 2020 will inevitably become.   

 

 

Sincerely,

(signed) "Matthew R. Strong"

Matthew R. Strong

President, Chance Consulting Group

 

 

Do Not Reply – Should you need to contact The Stampede Challenge by email AND you are listed as the team manager and/or one of the primary contacts, we kindly ask that you please DO NOT respond to this email thread directly, as it cannot accept responses. Your message(s) and/or questions are important to us – as such please compose a new email separate from this thread and send it to accinfo@chanceconsulting.ca