In May, the Mustangs finalised their first ever roster and selected Shane Hardy to captain the team for the six planned exhibition matches around Australia.

Michael McDowell scored the first ever Mustangs goal in any match, with a blistering top-shelfer from the point for a 1–0 lead in the first period.

[2] In the second match on 13 June, the Mustangs proved too good for the young Victorian Tange representative team, defeating them 9–0.

[9] The Mustangs registered their first ever AIHL victory on 16 April 2011, overcoming the Sydney Bears 6–2 at the Penrith Ice Palace.

It was later revealed Laforet was temporarily stood down by the club as a result of an altercation at a game against the Gold Coast Blue Tongues.

[12] At the end of the regular season, the Mustangs finished sixth in the league standings, ahead of the Canberra Knights and Sydney Bears.

[13] In 2012, during the off-season before the new season started, the annual AIHL general meeting (AGM) sat and a decision was made to lift the restrictions on the Mustangs from using the geographical word 'Melbourne' from their brand with immediate effect.

[11] Under Laforet, the Mustangs registered five wins from eight matches but it was not enough to lift the team off the bottom of the Easton Conference at season's end.

Brad would be assisted by Ice Hockey Victoria stalwart Mark "Chuck" Connolly, providing the Mustangs a blend of youth and experience on the bench.

In the end the Mustangs proved too good and clinched the title and H Newman Reid Trophy by finishing three points ahead of the Ice in first place.

In a hard-fought match that swung one way and then the other, the Mustangs prevailed, 6–4, to clinch a maiden Goodall Cup final birth.

[25] Viktor Gibbs-Sjodin led the way for the Mustangs with a hat trick of goals to his name, while goaltender Fraser Carson made 29 saves in the match.

Gibbs-Sjodin was named finals MVP after the match and the Mustangs claimed their maiden AIHL championship and Goodall Cup.

[26][27] In 2015, the Mustangs could not repeat their previous season's successes and the team finished sixth in the league and missed out on finals.

[28] In November, Brad Vigon announced his resignation from the head coaching role at the Mustangs with immediate effect as he felt the competing commitments between the team and his family was too great.

[29] A couple of weeks later, Vigon was named new head coach of the Australian national team (The Mightyroos) by Ice Hockey Australia.

The Ice had set a new league record for most points in the regular season so the Mustangs headed into the match as underdogs.

[36] In 2019, the Mustangs reached an agreement and signed a memoriam of understanding (MOU) with tier 2 women's team, Melbourne Chargers.

The agreement sees resources and knowledge shared across the two organisations in the effort to grow the sport of ice hockey for both men and women.

President John Belic has stated: "Sport is such a massive part of my life and that of our family and forms the very fabric of many of our social interactions.

Statistics Average age: 26.6 Average height: 182.6 cm Average weight: 82.0 kg Locals: 24 Imports: 5 These are the top-ten all-time player records in franchise history for the following categories: Apperiences,[43] goals,[44] assists,[45] points[46] and penalty minutes[47] Current as of 2019 AIHL season (Figures are updated after each completed AIHL regular season) Current as of 2024 AIHL season[48][49] The Melbourne Mustangs have had a total of six captains in the team's history.

The colours are used in all aspects of the club including: uniforms, supporter merchandise, official media and digital production.

[59] The Icehouse has an Olympic sized ice surface, café, bar, specialist winter sports gym, pro shop, corporate boxes and seating for 1,000 spectators as well as room for additional 500 standing attendance on match days.

The two may share the same home venue but the Melbourne derby has developed into one of the big fixtures in the AIHL each season over the past ten years.