The franchise joined the North American Hockey League (NAHL) for the 2008–09 season with Chicago businessman Jim Perkins and Barry Soskin as owners.

[1] Soskin was also the owner of independent Northern Junior Hockey League teams, the Findlay Grrrowl and defunct Pittsburgh Cougars, as well as the former owner of the ECHL's Toledo Storm and Central Hockey League's Nashville Nighthawks.

On November 18, 2009, it was reported that the Thunder were engaging in "pay-to-play," or taking money to guarantee players' spots on the team, an act that is against the rules under the Tier II sanctioning of USA Hockey for the NAHL.

[3] On December 7, 2009, the NAHL's Board of Governors terminated the Albert Lea membership and took over operations of the team during the transition.

[4] Despite the scandal, the Thunder mounted a late-season comeback and made the playoffs for the first time in team history in 2010.