During this building phase, the team had six head coaches within the span of 4 years, including the owner, Don Cherry.

[citation needed] The team changed ownership in 2002 with venture capitalist Joel Albin acquiring the team from owners Don Cherry, Retrocom, sports agent Elliott Kerr, and Trevor Whiffer - lawyer of Don Cherry and the general manager of the IceDogs'.

[3] In the 2002–03 season, the IceDogs finished fourth in the Central Division and made the playoffs for the first time in franchise history, but lost in the first round in five games against the Ottawa 67's.

The surprise IceDogs then upset the St. Michael's Majors in the Eastern Conference Championship series in six games to win the Bobby Orr Trophy and earn their first-ever trip to the Ontario Hockey League finals.

[citation needed] On July 12, 2006, Eugene Melnyk, owner of the Toronto St. Michael's Majors and the NHL's Ottawa Senators, bought the Mississauga IceDogs.

The IceDogs were one of the highest-selling road teams in the OHL that year, as many spectators attended games to see Don Cherry coach and seek autographs.

The original logo (inset right) looked like an ice crystalized dog with red eyes in front of a big letter "M" with a maple leaf in the corner.