Bomber Finance

Here's a thread for the number guys. Maybe they can explain it for me.

The question is have the Blue Bombers become more than just a football team?

I can understand the desire to pay bills and the requirement to generate revenue to do so but getting into concert promoting and property management seems to be a growing trend that doesn't really have much to do with football.

I am not sure of who pays what as far as the stadium goes. Would bet money it all trickles down to the taxpayer fan base in the end. Seems like the Bombers have a giant line of credit guaranteed by the prov and no doubt some banker who loves to see the interest payments roll in and doesn't really care if the principle is ever touched. Average person won't ever even know

It seems guardians of the public purse are seldom very good at guarding said public purse.

I would like the Bombers to be in the football business and to be held accountable for their success or failure based on football operations given that it is some kind of community organization. I don't care that they were able to break even due to staging a hockey game outdoors or bringing Toby Keith to town. Even Grey Cup revenue is iffy and should be separate imo.

Always seems like smoke and mirrors when money is involved but I have yet to see fiscal restraint of any type from this group. Hide the details and hit them with a headline seems to be the norm.

Makes me feel bad for David Braley who pays his guys with his own money and naturally watches it a bit closer than little Wad who doesn't have a nickle of his own in the game.

Maybe I am just not seeing it.

Liking the contract reportedly signed by Jeremiah Masoli. Saw the story on 3DownNation.

Year 1 - $235,000 + $125,000 bonus to sign

Year 2 - $335,000 + $45,000

Seeing they are calling him the starter. Not sure how the bonus in year 2 works.

Damn nice money for an 8 month gig.

Thinking the Bombers are overpaying for Nichols imo. Nothing to do with him not being a good quarterback, just over paid and taking away from the overall package. again imo.

Its a succulent financial opportunity. Running an entertainment organization with an untaxed, taxpayer subsidized 32,000 person facility where no taxpayer oversight exists. This is the kind of black hole profit opportunity David Asper envisioned when he raped the financial bejeebers out of the old Manitoba premier Greg Selinger.
Miller has the power to make or break politicians so very few tread into his terrain - challenging some oversight or even asking the tough questions. Just mopes like us on the perimeter of the situation.

With no oversight - its a capo's delight to be able to cream off untold tens of thousands in ticket money for concerts, football games, other unexpected uses of the facility. (ie. papal visits, religious crusades, car sales promotions, rock concerts and festivals, international soccer, NHL outdoor games, etc.) With no real reporting procedure in place to any or all levels of government - the place is rife with the ability to not only cream money - but launder it as well.

Thanks Lyle. Your insight is appreciated.

Seems odd that we are all so good with it.

400/420/450 is not really overpaying. Any established vet is making that. Last year, the only teams not paying that were the Riders and the Lions. Now it is the Lions, Cats and Montreal. Cats have a QB who is still in the prove it phase, Montreal is seemingly without a strong QB presence at all and BC I don't even know what to say. I mean I guess last season they probably paid well for Lulay as a backup, so that is a factor, but Jennings was only at 175 and is at 300 now. Paying that I don't understand how they could be so bad everywhere else...sorry, side tangent. Point being that I think Nichols has shown he can lead this team. If not for finishing the season with a fractured finger, well, who knows. I don't see how you can have a QB who is in his prime and proven to have game and not pay over 400.

Maybe some of (myself included) just don't care. Win the damn Cup first and then let the chips fall.

Like they have been doing a real good job of that.

Maybe this year.

Aren’t us taxpayers the guardians of the public purse and we just choose the staff to conduct that business for us?

Seems Andrew Harris is being paid quite a bit more than the next best running back whoever that may be. Messam only got around $100,000 from Sask possibly, rumored, maybe.

Can't cut Harris. He is the beat to our drum but he is being paid well to do it. I hope he stays healthy. Just saying.

Nichols is high as well. In fact it would be great to see the real list. Medlock and Dressler without a middle linebacker are dead weight. I believe Stanley Bryant to be well paid as in Jovan Olifoyesque at $210,000 when he was a Lion. Bowman at $140,000 makes me smile. There's about six others.

Harris is my guy. A 33 blue would be a pretty cool jersey to have. I hate to think we waste a year of his talent by not managing the sms again. Bombers are known to be the most free spending team in the CFL with their big contracts for average players leaving no middle income ground for good players. Perhaps the reason Henoc dropped in.

Anyway... win it all and work it out if you can.

$5.1 million to the good side meets the definition of success with most accountants I know.

We should all be happy now. May as well end the suspense and roll out the extensions.

Mark "The Moose" Chipman would be the first in line to pick up the bombers should Miller and his merry group of trolls fail.
Chipman would enforce financial responsibility - and he'd utilize the 32,000 IGF (35 to 37,000 with floor seating) for far more concerts than Miller conjures up.

I would expect the True North Organization to at the very minimum double profits - ie. 10 million annually vs. 5 mill. in operating profits.

Still have to pay back that darn little govt. mortage - I wonder just how much the team has paid off the last 5 to 7 yrs. I'm guess 10 to 12.5 million - not that much but its certainly better than zero.

Chipman would be able to negotiate far better contractor rates and more effective/enduring repairs of the stadium - which was built on kinda a shoe-string.

Only problem with Chipman is none of his family or current executive team are football men - so they'd have to find good football men to replace guys like Walters, O'Shea, Hall, Rigmaiden, McManus, etc. Who knows - perhaps one or more of these guys would thrive under new ownership?

Headline a bit misleading when you read through the article and find out it is a $300,000 profit. Still very good but why the big headline?

Goes back to the start of the thread when I asked if the Bombers are a entertainment company or a football team. Great that they are making money.

WAD continues to con the lemmings with his "operating" profit statement.
That figure does not carry any responsibility for the massive debt(s) the club owes, including, I believe, a bank loan that takes all funds prior to any payment against the long term debt.
I am confidant the club owes more today than it did a year ago.
That's the concern.
The conning of the Owners (us) is the secondary matter.
Just tell us the truth.
Revenue/all expense
Senior management salaries
Non arms-length transactions
(The Pinnacle Room??)

Good post Wumper. Thank you.

Sad if true that the Bombers would owe more now. Wad's world is full of smoke and mirrors.

Personally I have a hard time taking anything they say as the truth. Being honest would result in me spending more on them, win or lose.

At one time the Bombers used to be all of us, now it is them. Hopefully they will win us a cup someday soon.

Looking at the Winnipeg Blue Bombers financial statements, I can't see where the excess of revenue is only $300,000.

Before payment of $3.5 millions for Long Term Debt/Stadium, the excess of revenue over expenses was $5,068,097. Reduced to $1,568,097 after the payment.

In terms of working capital,i.e. current assets minus current liabilities, there is a major improvement over 2016. The working capital amounted to $3,228,532 as at December 31st, 2017 compared to $1,469,266 as at December 31 st 2016.

The financial situation is quite positive.


I know you are a stickler for figures Richard and I believe these to be accurate..Rumours are another revenue stream for the Bombers will come into effect in 2018...Just what that is would be anyone's guess at this point in time, but definitely positive

Maybe they are going to tarp IGF in and grow weed next year. Plenty of revenue there.

For Richard I believe there was a past due amount around 1.5 that they dealt with. Perhaps that is the difference in the numbers.

Really no end to it if they want to generate revenue. Will require a bigger bureaucracy and more smoke and mirrors. How the Bombers are the ones to get revenue from stadium use is a winfall and a half. Guess in the old days it was Winnipeg Enterprises and nothing could ever make me wish for that group to reappear.

I for one would like it to be about football.

Richard, my mortgage calculator, ok it's really RBC's, seems to indicate that @ 5 percent interest rate the annual payment required on the club debt is 8.4 million for a 30 year am and when I plug in 3.5 mill as the payment I get an infinity reading.
If I'm missing something help me out but I don't see paying forever, at this rate, and even then not clearing the debt, as being in good shape.
In fact, I'm sure that meets the harsh definition of insolvency.
I love my Blue Bombers and I applaud the success of No'Shea and Walters. I am offended by the smoke enema's WAD continuously offers up.
The club isn't profitable, it's not servicing its debt!!
Not servicing a debt to a benevolent lender and then claiming you've profited from that is the sort of junk I just wish the club would loose.
By now very very few expect or even require a "profit", there is no need to suggest there is one.
WAD, this is Trump economics.
Just tell the truth. You're above impeachment, we went to the play-offs.......


it is all still 5.1mil profit. That debt repayment just moves assets onto the other side of the ledger.

They had that 8 or 10 mil or so loan post stadium for further infrastructure development. I believe that will be about half paid off now.