Blue Bombers turn a profit

WINNIPEG, MB – The Winnipeg Football Club released their 2006 financial results today and it revealed a record profit for the storied franchise.

Due in large part to the success of hosting last year’s Grey Cup, the Bombers accumulated a net earnings of $2.9 million for the year ending December 31, 2006. The financial windfall was more than enough to pull the club officially out of debt.

“The results of last year are great for the stability of this franchise,? Blue Bombers Chairman Ken Hildahl said. “The process of getting our team back on track financially began back in 2000 and after a lot of hard work by many different stakeholders, we have finally accomplished an important goal.?

The club began the 2000 season with an accumulated debt of over $5.5 million.

The club generated a $3.3 million profit from the 2006 Grey Cup game and festival and also increased its operating revenues to $11.6 million. However, operating costs also saw an upward trend, reaching $12.1 million for the year.

The financial success of the year, combined with the repayment and forgiveness of $1.7 million of income debentures resulted in the club eliminating its deficit and in turn, generating a surplus of $4.0 million.

“The football club made a commitment to getting this team on solid financial ground and to look at where we have now gotten to is quite remarkable,? said Bombers President Lyle Bauer. “It is really a testament to the dedication of many people, including our fans, sponsors, board members, staff, and all our other partners in this great community.?

The football club’s annual report will be made available on its official website, www.bluebombers.com.

....no update on Asper's offer to purchase....hmmmm, what gives papa?....

thats what i want to know

Boy we keep saying how young, rich Canadians wanting to buy into the CFL should be swept off their feet asap.
I don't know what the community minded BB are thinking. A wealthy private owner who wants to build a new stadium. HELLO, is anyone home?
Maybe with the $ in profit is changing their way of thinking.

No excuse for Taman NOT signing free agents to make his team better.

First off the money sucking folks from TO have no idea how to run a business in the 'Peg so there's no panic here to make a decision on Asper's or anyone's plan. As we see the club(including Taman) seem to be managing just fine thank you.

....just got back from counting all my dough... :lol: .....Asper said he wanted some sort of answer from the Bomber brass by the END of March i believe....still waiting...some background happenings that people in the Peg. are not privy to quite yet....we should hear something shortly.. :roll: :roll:

.SMS....might have something to say about that one...sport...only so much you can spend on fa's ...but i think we still may have a few pesos to spare on a few signings. :wink: don't think we hit the ceiling yet....or is it the floor... :lol:

The proposals are still coming in for the stadium project, due diligence all that bs that must be adhered to when there are government funds involved.

As for the Bombers signing free agents, not too likely when you were already at the cap last year. However, it seems more teams have had to dump a few big names to get under, which is all relevent. Teams can no longer outspend us, the real measure of the GMs in the league will start to show now.

All Im going to say is that it would be pretty bad if Winnipeg didnt make money... Now a days, any team who hosts the grey cup should turn in some $$$...imo

Jman sit down I agree with you. I was going to let this one go buy. But why the announcement? I mean they hosted the Grey Cup they better have made a profit.

It's still good news. I think the Bombers being out of debt again is a pretty good reason for an announcement. This isn't just good news for the Bombers, but good news for the CFL as a whole. I don't see why you guys are so put off by this announcement.

No I am not put off by this announcement. It is very goood news no doubt about it. The problem is that with being the host of the Grey Cup which would generate 2 million profit they better announce a profit. The problem being you do not get to host this event every year. So the Bombers is one club that needs to get its finances in order for the future. Thus the Asper deal would be great for the organzization, the fans and the CFl in general. If the deal does not go through then they will need to find ways to generate cash because I am sure the cap will go up each year. Would not want another team in financial ruin. Bauer stated last year time is not on the Bombers side so you have to think they are worried about the future of this club.

They are $4 million dollars in the black.

WELL DONE , WINNIPEG! :thup:

They lost money for their last GREY CUP before 2006. :cowboy:

I do beleive all those questions(about the stadium deal) were answered if you bothered to read about them in the Free Press, for those of you not in Winnipeg or too cheap to get the Free Press it's all posted on the Bombers fan Forum.

The Bombers are waiting to see if they get any Proposals from other people as atleast 7 Companies/developpers picked up an info booklet I guess it is and have another 3-4 weeks to submit propsals to the Winnipeg Blue Bombers, if Asper is the best Deal then The bombers will negotiate with him as to the exact numbers, rules of the transaction/process.
Mr. Asper never put a Finite date on when he would like an answer as he understands the bombers need to do their due diligence in finding the best deal for the Club.

As for Taman he better spend appropraitely something like 3.8M meaning the Bombers could make Money and it leaves room in case of Injuries for the Bombers, Being right up the Cap from the Start is not a good idea, it's better to leave that Buffer of 250K. Taman can easily put a competitive Team if the most Teams would be out-spending him would be around 500K(teams accepting that 2 to 1 Penatly for being 250K over the cap so that's 500K to the bombers through the SMS)

All of a sudden the Bombers are competitive and Finicailly viable.
I do expect either 4 or 5 teams will be over the cap continually by an average of 200K meaning the 4 lowest Revenue teams will receive an average of 400K, this will atleast happen for the first few years of the SMS so until the 2009 or 2010 season.

Do not bet on that. After this year the bombers are in rough shape. Bauer knows that he has stated the future is not good for this team. You can not rely on such a tight money frame work. You have one bad season who is going to bail them out? The community! Asper in the past has bailed this team out and the community turns around and say lets look at other offers. I do not know about you but if I were David Asper I would tell the Bombers to take a hike. But the guy loves this team and when you have a very deep war chest what the hell do you have to think about? I know what it is that the NDP thinking of this organization may screw up a great opportunity for financial stability of this franchise. Asper has been giving to this community lo0ng enough that there should be trust in his abilities and what he will do for the team. If this deal falls through the bombers will be in financial trouble in two to three years. IMO!

Good one 05, I too would like to blame that NDP government, but the fact is Doer is for it, he has no problem spending tax payers money, right papa....:slight_smile:

The problem is anytime you are dealing with public funds you have to abide by the processes involved in obtaining proposals. This is nothing more than butt coverage on the part of those involved.

...in fact....Doer and Asper get a long quite well...the NDP are not the stumbling block in the new facility equation... they're quite a willing participant in the Asper proposal...i think there could be a problem with Sam Katz...the mayor of the Peg ....who has been a little harsh with the BOG of the Bombers...questioning finances....BUT ...I guess that's his job on behalf of concerned citizens of the city....all in all IF a better deal than the Aspers comes along...that's the one the Bomber organization should pursue....however....to date...the best one to come forward is from David Asper....and the clock is ticking on the future of this franchise...Even though a 4 million dollar profit is at present, very substantial....that can disappear quickly in the real world of present day expenditures....in the end ,the RIGHT decision, hopefully, will be made for this franchise..... :thup: goBigBlue...

Wow dad you and your neighbor piggy quite the juice in a round about way you agreed. Shock and Awe!
My understanding on this is your mayor is trying to reach the same goal but it is the BOG that is slow in the process. I mean it would benefit the city no to have to bail out the future of this team right. So Now you say that the province is on board who is holding up the process. Get Asper in there get this stadium built and have the security of knowing you have an owner that cares and will do anything for his team. Get the deal done while it is available.