Published on April 22, 2008 1:34 AM by dbo.
At their annual general meeting Saturday the Saskatchewan Roughriders announced that they recorded a record net profit of $1,737,377 in 2007. The large profit is largely due to the success the club had on the field, winning 12 games, hosting a home playoff game and winning the league championship Grey Cup game. This success translated into selling out 8 of 10 regular season games and one playoff game at Mosaic Stadium at Taylor Field and playing to an average of 97% capacity for the year. The team’s success and popularity translated into additional revenue from merchandising and sold-out fund raising efforts Friends of the Riders Lottery and Plaza of Honour dinner.
While the figures released at the meeting match earlier reported numbers, the details reveal some interesting figures:
Earlier, the other team to make it to the Grey Cup final, the Winnipeg Blue Bombers reported a net loss of $264,000 for 2007. The net loss was approximately equivalent to the $262,000 expenditure for the solicitation of proposals for the development of a new stadium or the $300,000 in additional costs for reaching the Grey Cup. Some figures from the Bomber’s financial statements:
With these financials released, the three public (community owned) franchises in the CFL have now reported their 2007 results (the Edmonton Eskimos reported their results – a profit – back in February). While these three franchises are not a barometer for the whole league, coming from the strong prairie provinces, they do provide the public an insight into the finances of a CFL franchise and the health of the league.