The team was founded by Ed Stanley, who acted as manager, recruited local high school students as players, and provided financing for the team to buy equipment and take road trips.

In the 1933–1934 season, the Comets played in the National Amateur Championship at Madison Square Garden against the Hershey Bears.

The 1940 Winter Olympics were scheduled for Sapporo, Japan, but were canceled because of the start of World War II, as well as the hopes of Comets players Wilfred Goering and Art Scoones who were trying out for the Olympic team.

From 1954 until 1973, the Comets participated in the Eastern Hockey League, dominating for ten of their nineteen seasons.

Most notably, under head coach Pat Kelly, the Comets posted a 315–208–64 (wins-losses-ties) record of eight seasons.