The Seals were running away with the league during the regular season and made a pivotal move at the trade deadline getting high scoring center Mike Sanderson and defenseman Dave Mills.
The Seals' original staff was made up of owner Jeff Brubaker until he ran out of money one month into the season and David Waronker took over the franchise.
Other staff members brought in were GM Sammy Wallace, Joe Fellini, John Dyer, Erika Hodges, and Tom Bradley.
League Commissioner Jim Riggs awarded the trophy to the Waronker and Orlando mayor Buddy Dyer during an on-ice ceremony at one of the regular season games.
On August 22, 2004, the City of Orlando revoked its lease at the TD Waterhouse Centre due to a clause about attendance and the Seals would miss the season.
The Seals finished the 2005–06 season with a 32–17 record with seven overtime losses, placing third in the league, but lost the President's Cup to the Knoxville Ice Bears in five games.
On January 4, 2007, Osceola Heritage Park, operators of the Silver Spurs Arena, abruptly locked out the Seals after they failed to meet their contractual obligations.
[1] Several members of the Seals' organization continued their careers in professional sports with Sammy Wallace working for the Germain Arena in Estero, Florida, and Peter Young was with a baseball team in Arizona.