The WHL Kootenay Ice finished the 2001-02 regular season with a record of 38 wins, 27 losses, and 7 ties finishing 2nd in the BC division.

In the playoffs, they would defeat the Prince George Cougars 4 games to 3 to advance to Round 2 against the Seattle Thunderbirds, defeating them 4 games to 0 to set up a meeting with the Kelowna Rockets for the WHL Western Conference Championship. They would defeat the Rockets 4 games to 1 earning the right to face the Red Deer Rebels, WHL Eastern Champions, for the WHL Championship. The Kootenay Ice won the President’s Cup awarded to the playoff champion of the WHL by winning the series 4-2, with game 1 and 3 going into overtime and game 6 going into double overtime.

At the 2002 MasterCard Memorial Cup in Guelph, Ontario, the Ice won their 1st game by beating the Erie Otters, 3-0. The Ice improved to 2-0 with a 4-3 victory over the Guelph Storm, and would suffer their first loss at the hands of Victoriaville by a score of 3-2. With the round-robin over, the Ice had secured a spot in the final. Colin Sinclair scored 2 goals, including the game-winner, to help the Ice to a 6-3 win over the Victoriaville Tigres, making them Memorial Cup champions for the first time in franchise history.