One of the strongest hockey clubs to come out of Cape Breton was the 1941 Sydney Millionaires, a team that was runner-up for the Allan Cup. Sydney defeated Hull Volants in three straight games to advance against the Montreal Royals in the Eastern final. The Royals, with future NHL player Bill Durnan in goal, tied Sydney 3-3 and won the second game 3-1 before dropping the next three games to the Millionaires.

Sydney then travelled to Regina to meet the Regina Rangers, the Western champions. The Millionaires won the first two games 8-6 and 8-3 with the third game a tie at 1-1. Regina then completed the comeback with three straight victories 5-4, 3-2 and 3-0 to claim the title.

Team members: Jack Atchison, Art Bennett (trainer), Bill Dickie, Jack Fritz, Bill Gill (coach), Grant Hall, Dick Kowcinak, Keith Langille, Steve Latoski, Johnny McCready, Bud McEachern, Ray Powell, Judd Snell, Mel Snowden, Eddie Spencer (stick boy), Ed Tucker (trainer), Remi Van Daele, Bobby Walton.