On November 9, 2022, the Canadian Elite Basketball League announced that its 10th franchise would be in Winnipeg, Manitoba.

[5][6] On December 14, 2022, the Sea Bears announced that Mike Taylor was hired as the team’s inaugural head coach.

[7][8] On May 27, 2023, the Sea Bears played their inaugural game in front of 7,303 fans,[9] shattering the previous league attendance record by nearly 3,000.

The Sea Bears finished their inaugural season with a 12–8 record for second in the Western Conference and a home playoff game against the Edmonton Stingers.

[10] The Sea Bears' second season started May 22, 2024 with a loss to the Saskatchewan Rattlers, played in the SaskTel Centre in Saskatoon.