On November 22, 1994, the IHL announced an expansion franchise had been awarded to the Bay Area to begin play for the 1995–96 season at the Cow Palace.

[1] The former president and chief executive officer of the Jackson National Life Insurance Company Dave Pasant was the owner and paid the $6 million franchise fee to the IHL in becoming the league's 18th team.

[4] For the one season, the Spiders roster took on a familiar look to the Cow Palace's previous hockey tenant, the San Jose Sharks.

Dale Craigwell, Link Gaetz, Robin Bawa, David Maley, Ed Courtenay and Mike Lalor all played for the IHL expansion team.

On weekends, attendance tended to be respectable, around the 7–8,000 mark, but on weekdays, the Spiders often struggled to draw more than 2,500 in averaging 5,024 fans for each home game.