The Thunder played its inaugural season in the World Basketball League, which folded before the schedule ended.
[1] The Thunder enjoyed considerable public and corporate support at the outset, which later dwindled due in part to league instability and increased competition in the local minor-league sports market, following the establishment of the Winnipeg Goldeyes baseball club.
The club's financial backers included Sam Katz, John Loewen, Vic Pruden, Hersh Wolch and David Asper.
[6] The team played their first home game on May 11, 1992 at the Winnipeg Arena before a World Basketball League record breaking 11,052 fans, unfortunately the Thunder lost 101–84 to the defending champion Dayton Wings.
[7] On May 15, 1992 after going 0–6 to start the season the Thunder won their first game in franchise history at home 127–103 over their Provincial rivals the Saskatchewan storm in front of 4,641 fans.