Argofan_1000

Last year at this time the financial reports for 2015 were completed for the 3 clubs we were allowed to see  the results for.   Auditors letters were completed for 2 of them by this time.   I posted the financial results for 2015 so we could see them as a reference. When they come out I will post try to post them here

Eskimos
http://d3ham790trbkqy.cloudfront.net/wp ... olders.pdf
Bombers
http://d3ham790trbkqy.cloudfront.net/wp ... t-2015.pdf
Riders
http://d3ham790trbkqy.cloudfront.net/wp ... ort-FA.pdf

taking info from the Riders 2015 financial results and projecting how they will look in 2017, seems like they will approach $45-$50 million in revenue.

Mr. Pike

BigJoeM

Quote from: "Mr. Pike"
Winnipeg press release on 2016 finances:

http://www.bluebombers.com/2017/04/05/w ... lion-2016/


 Good to hear they have met their 4.5 million yearly  repayment for the stadium and still have a profit .
There was a man who had nothing to hide so he didn\'t care about privacy and I knew another who had nothing to say so he didn\'t care about free speech .

slimjim2

Quote from: "Argofan_1000"
Last year at this time the financial reports for 2015 were completed for the 3 clubs we were allowed to see  the results for.   Auditors letters were completed for 2 of them by this time.   I posted the financial results for 2015 so we could see them as a reference. When they come out I will post try to post them here

Eskimos
http://d3ham790trbkqy.cloudfront.net/wp ... olders.pdf
Bombers
http://d3ham790trbkqy.cloudfront.net/wp ... t-2015.pdf
Riders
http://d3ham790trbkqy.cloudfront.net/wp ... ort-FA.pdf

taking info from the Riders 2015 financial results and projecting how they will look in 2017, seems like they will approach $45-$50 million in revenue.

Interesting when you break down the financial results.    The gate revenue for the Esks was $9 Million but the gate revenue for the Riders was $15.5 Million.  
The Riders had the second highest attendance at 31,000 average or roughly $55 per ticket.
The Esks must sell a lot of "cheap seats"
But all teams generate a lot of money from concessions and merchandise,   which demonstrates why it is so important to have the "bums in the seats"

What jumps out in the reports is that it's costly to run a CFL team.   The 3 most successful teams with the highest attendance make a small profit.

Migs

Quote from: "BigJoeM"
Quote from: "Mr. Pike"
Winnipeg press release on 2016 finances:

http://www.bluebombers.com/2017/04/05/w ... lion-2016/


 Good to hear they have met their 4.5 million yearly  repayment for the stadium and still have a profit .

Not true.  They posted the profit BEFORE their $4.5M mortgage payment.  In reality they lost $1.7Million last year.

KevinRiley2

Quote from: "Migs"
Quote from: "BigJoeM"
Quote from: "Mr. Pike"
Winnipeg press release on 2016 finances:

http://www.bluebombers.com/2017/04/05/w ... lion-2016/


 Good to hear they have met their 4.5 million yearly  repayment for the stadium and still have a profit .

Not true.  They posted the profit BEFORE their $4.5M mortgage payment.  In reality they lost $1.7Million last year.
Not sure where is says that, Migs.  

Anyway, it was a positive year for the 3 public teams.  And, let`s be honest, the public teams do NOT run bare bone operations.  If they were private, there would be a ton of savings (on expenses) to be had.

KevinRiley2

Quote from: "slimjim2"
Quote from: "Argofan_1000"
Last year at this time the financial reports for 2015 were completed for the 3 clubs we were allowed to see  the results for.   Auditors letters were completed for 2 of them by this time.   I posted the financial results for 2015 so we could see them as a reference. When they come out I will post try to post them here

Eskimos
http://d3ham790trbkqy.cloudfront.net/wp ... olders.pdf
Bombers
http://d3ham790trbkqy.cloudfront.net/wp ... t-2015.pdf
Riders
http://d3ham790trbkqy.cloudfront.net/wp ... ort-FA.pdf

taking info from the Riders 2015 financial results and projecting how they will look in 2017, seems like they will approach $45-$50 million in revenue.

Interesting when you break down the financial results.    The gate revenue for the Esks was $9 Million but the gate revenue for the Riders was $15.5 Million.  
The Riders had the second highest attendance at 31,000 average or roughly $55 per ticket.
The Esks must sell a lot of "cheap seats"
But all teams generate a lot of money from concessions and merchandise,   which demonstrates why it is so important to have the "bums in the seats"

What jumps out in the reports is that it's costly to run a CFL team.   The 3 most successful teams with the highest attendance make a small profit.
You can always count on Jim with a negative spin...

What I see is a bunch of public teams, with the expenses of a public team.  If they were privately run, there would be a ton of savings to be had.  

Looks positive on the teams and the League.  Of course, there will ALWAYS be naysayers.

BigJoeM

Quote from: "Migs"
Quote from: "BigJoeM"
Quote from: "Mr. Pike"
Winnipeg press release on 2016 finances:

http://www.bluebombers.com/2017/04/05/w ... lion-2016/


 Good to hear they have met their 4.5 million yearly  repayment for the stadium and still have a profit .

Not true.  They posted the profit BEFORE their $4.5M mortgage payment.  In reality they lost $1.7Million last year.

Not sure your correct as there is a tax applied to tickets etc ... this is the 4.5 million excess of profit  and is a stadium management fund that does not show up on the balance sheet as team profit . I could be wrong but that's what it looks like . One of the benefits of community ownership is being non profit so any taxes on an event can be applied to a fund like the financing of the stadium . I believe that is way they can report a 2.8 million operating profit . The rechanneling of the tax on everything recovered by the team is reinvested back directly to pay the costs of the stadium build instead of to the public purse general fund .
There was a man who had nothing to hide so he didn\'t care about privacy and I knew another who had nothing to say so he didn\'t care about free speech .

KevinRiley2

Quote from: "BigJoeM"
Not sure your correct as there is a tax applied to tickets etc ... this is the 4.5 million excess of profit  and is a stadium management fund that does not show up on the balance sheet as team profit . I could be wrong but that's what it looks like . One of the benefits of community ownership is being non profit so any taxes on an event can be applied to a fund like the financing of the stadium . I believe that is way they can report a 2.8 million operating profit . The rechanneling of the tax on everything recovered by the team is reinvested back directly to pay the costs of the stadium build instead of to the public purse general fund .
:thup:

Either way, as I have said many times, the teams have come a LONG way.  Run these 3 teams, on a tighter budget, and the profits would sky-rocket.

BigJoeM

7. Stadium Management Agreement
On December 15, 2010, the Club entered into a Management Agreement with Triple B
Stadium Inc. (“Triple B”), a non-share corporation of which the Club is a member, together
with The City of Winnipeg and The University of Manitoba, and is able to appoint one of four
directors. Triple B is incorporated under the Canada Corporations Act and is exempt from
taxes under Subsection 149(1) of the Income Tax Act. Upon dissolution of Triple B, the Club
has no entitlement or access to any of Triple B’s remaining net assets, including the stadium.
The Club does not control but rather exercises significant influence over Triple B, and has
therefore not recorded any value for its membership in Triple B on the Consolidated
Statement of Financial Position.
Triple B’s purpose is to develop, construct and own a stadium on leased land at the
University of Manitoba, for use by the Winnipeg Blue Bomber football team and the University
of Manitoba Bisons football team and for the use of amateur athletics and other public
purposes. Under the terms of the Management Agreement, the Club will manage and
operate the stadium in exchange for primary access to the facilities.
The Management Agreement requires the Club to establish its own Operating Reserve by
way of annual allocations of up to $500,000, until the reserve reaches a maximum of
$5,000,000. The Club maintained an Operating Reserve balance of $2,095,000 (2014:
$1,595,000) as at December 31, 2015.
Under the terms of the Management Agreement the Club is also required to use its best
efforts to generate sufficient Excess Cash and collect entertainment tax and facility fees to
meet all of the following payments.
Subject to the existing note payable (Note 5) to the City of Winnipeg, all entertainment tax
and facility fees collected on regular season and exhibition Blue Bomber football games by
the Club will be paid to Triple B. In any year that entertainment tax and facility fee payments
in total exceed $2,000,000, the first $2,000,000 will be applied against the scheduled
payments noted below and the excess will be applied to a capital fund to be held by Triple B,
to a maximum of $500,000 per year. Any further excess entertainment tax and facility fee
payments (over $2,500,000 in a year) will be applied by Triple B to the scheduled payments
below.
In addition, the Club is to use any Excess Cash generated in a fiscal year, after consideration
of the Club’s required working capital levels and allocations to the Operating Reserve, to
make a further annual payment to Triple B in accordance with the maximum total scheduled
payment, inclusive of the amounts collected and remitted by WFC for entertainment tax and
facility fees (except for amounts applied to the Triple B capital fund), as follows:
2015 $ 4,000,000
2016 4,000,000
2017 3,000,000
Thereafter, the maximum annual scheduled payment of Excess Cash will be $3,885,834, until
2058. Any shortfall on the above Excess Cash amounts in any year will be added to the
amount to be paid by the Club in the following year in which it was originally due. Under the
terms of the Management Agreement the Club is also required to remain a community owned non profit non share
There was a man who had nothing to hide so he didn\'t care about privacy and I knew another who had nothing to say so he didn\'t care about free speech .

KevinRiley2

I can't wait until the next TSN deal.  I know the Jims of the world will put a negative spin, but we are a few years away from every team making good money.  Nice to see.

BigJoeM

Quote from: "KevinRiley2"
I can't wait until the next TSN deal.  I know the Jims of the world will put a negative spin, but we are a few years away from every team making good money.  Nice to see.

Probably why I don't understand why there is so much negativity to expansion thru the same principle as community owned . In Canada especially in the CFL it is the way to go if they want a few more or at least one more team . It appears to be a much easier path for stadium builds if it is seen as non profit . The rechanneling of tax dollar recovery
directly on the infrastructure with a little philanthropy from corporate sponsors is palatable to the every day tax payer to influence in getting any project started and completed like a stadium and a community team .

 I know there are a few here who dislike this train of thought but it's the CFL way and with good stewardship of any team they can have a profit or break even with cost certainty like the CFL has right now with a modest salary cap .

The TV/Internet streaming money will only go up with appointment viewing of sports becoming more valuable . The CFL is in a good position to negotiate the next deal .
There was a man who had nothing to hide so he didn\'t care about privacy and I knew another who had nothing to say so he didn\'t care about free speech .

KevinRiley2

Quote from: "BigJoeM"
Quote from: "KevinRiley2"
I can't wait until the next TSN deal.  I know the Jims of the world will put a negative spin, but we are a few years away from every team making good money.  Nice to see.

Probably why I don't understand why there is so much negativity to expansion thru the same principle as community owned . In Canada especially in the CFL it is the way to go if they want a few more or at least one more team . It appears to be a much easier path for stadium builds if it is seen as non profit . The rechanneling of tax dollar recovery
directly on the infrastructure with a little philanthropy from corporate sponsors is palatable to the every day tax payer to influence in getting any project started and completed like a stadium and a community team .

 I know there are a few here who dislike this train of thought but it's the CFL way and with good stewardship of any team they can have a profit or break even with cost certainty like the CFL has right now with a modest salary cap .

The TV/Internet streaming money will only go up with appointment viewing of sports becoming more valuable . The CFL is in a good position to negotiate the next deal .
Amen, Big Joe.  I agree.   :thup:

Grover

"The Bombers' $4.5-million stadium-loan payment led the club to withdraw $1.7 million from its reserves, communications director Darren Cameron said."

http://www.cbc.ca/news/canada/manitoba/ ... -1.4056492

Thanks to @Doc_Dave for sig

KevinRiley2

Quote from: "Grover"
"The Bombers' $4.5-million stadium-loan payment led the club to withdraw $1.7 million from its reserves, communications director Darren Cameron said."

http://www.cbc.ca/news/canada/manitoba/ ... -1.4056492
How many years are left?  Isn't it a lot?
 


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