The Sheffield Steelers changed ownership, with Bob Phillips purchasing the club from Norton Lea while Mike Blaisdell surprised many amongst the British ice hockey community by returning to coach the Nottingham Panthers, several years after an acrimonious departure.
The Coventry Blaze entered the Continental Cup as the United Kingdom's representative while the 2006 Winter Olympics provided the opportunity for the Kölner Haie and Iserlohn Roosters to play a series of games against three of the Elite League's members.
The competition was won by the Sheffield Steelers, who defeated the Coventry Blaze on penalty shots after a 1–1 draw on aggregate in the two-legged final.
The 2006 Winter Olympics in Turin meant that a number of Europe's biggest leagues took a two-week break while national teams were participating in the competition in Italy.
The Cologne Sharks and Iserlohn Roosters of the Deutsche Eishockey Liga played four games against Coventry, Nottingham and Sheffield.