The majority of the would-be basketball owners were involved with the National Hockey League and wanted to fill empty dates.

The major partners in the ownership group were Eric Cradock (co-owner of the Montreal Alouettes football team), Harold Shannon and Newman.

On November 1, 1946, they hosted the first game in BAA league history losing 68–66 to the New York Knickerbockers before an opening night crowd of 7,090.

Attendance quickly dwindled and the Toronto Star published an estimate that team owners lost $100,000 in one season of operations.

Three weeks into the season, with the team off to a poor start, the Star reported that the players had divided into two or three cliques that rarely spoke to each other.

Hayman traded the playing rights to Sadowski to the Cleveland Rebels for Leo Mogus, at the time one of the league's top scorers.

Of the 20 players to make it to the floor for the Huskies, only five would go on to play 10 or more games in the BAA/NBA following the 1946–47 season: Sadowski, Mogus, Hermsen, Nostrand, and Dick Schulz.

[5] Reviving the Huskies name was originally considered at the time of selecting a name for Toronto's new NBA team in 1995 (marking a return of professional basketball to the city after a 48-year absence).

However, management ruled that option out when it became apparent there was no way to design a suitable logo that didn't resemble that of the Minnesota Timberwolves, so they became the Toronto Raptors instead.