The Bears are two-time winners of the Goodall Cup and won the AIHL championship in 2002 and 2007. The Bears were one of three teams that founded the AIHL in 2000, along with the Adelaide Avalanche and Canberra Knights. Although the Bears did not win the championship in either year, they won the Goodall Cup tournament in 2001 in Newcastle, the last time the Cup was awarded independently of the AIHL. In 2002, the Bears defeated the Avalanche in the Goodall Cup final for their second consecutive Cup and their first and only AIHL championship to date.