Bombers Annual Report

Here are some notes from the Bombers Annual Report that I found interesting.

Alouettes thing... Bombers declared they had a remaining unpaid loan portion owing of $428 650.00 of the Alouettes 2019 season operating costs through contributions to a numbered company. But what is interesting is they claim that loan will never be repaid and have written off the loan. Now you would think that money would have been repaid from the proceeds of the sale of the team but apparently they will only get 170.000.00 of that back. Maybe the clown squad (Pedersen, Naylor, Lahji) will dig what this is about. Right...

Advances from the CFL: Looks like the league disbursed $900 000.00 in advancesto the teams, no reason is given, are the proceeds of the sale of the Alouettes hidden in there? How is it that teams would finance a numbered company and once the asset is sold, they would only receive a small fraction pf any of the money back? Corporate Altruism? :slight_smile: Or did the teams raid the CFL bank account and leave it empty? Handing out 8.1 million dollars based on no income is quite something.

Top Heavy Bombers: In spite of not playing a season, laying off employees and not paying a penny to players other than a few bonus. The Bombers managed to spend 8.6 million dollars on Administrative salaries and football operation and various "marketing" related expenses. They even found a way to spend and additional $1 665 835 dollars on gamed day expenses while not hosting a SINGLE game!

You can see why players are angry. Now someone should find out where the proceeds from the sales of the Alouettes went cause the owners of the Bombers apparently got burned for almost half a million. You would think teams would have been made whole before the Wetenhall family.

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Some teams reflect some items, such as sales of merchandises, as a net amount; the Bombers reflect the revenue and expenses separately.

Yes, in 2020 there are costs of $1,665,835 as Game day, merchandise and concessions expenses. On the revenue side, there is a total of $1,333,744. The net loss for 2020 is at $332,901 for these items-Revenue and Expenses-

In 2019, the total revenue for these items amounted to $8,759,071 while the total expenses for these same items amounted to $6,674,812, for a net surplus of $1,784,259 for these items.-Revenue ans Expenses-

No one amongst us knows, I do think, the proceeds of the sale of the Alouettes; if there were proceeds/ gain they should have gone to Mr. Bob Wetenhall and not the CFL teams. Did the new Owners agreed to pay part or all debts related to the Alouettes, before 2019, we don't know.

In 2019, the Blue Bombers advanced $657,600 to 2688820 Ontario Inc for the 2019 operations of the Alouettes and $228,950 was reimbursed, leaving a receivable of $428,650 at the end of December 2019. Since they doubt that this amount will be reimbursed, they recorded as a loss /a bad debt.

The same year, the Riders contributed $670,160 and $282,195 was reimbursed during their fiscal year 2019-2020, leaving a balance of $387,965 as at March 31,2020.

Unfortunately, we don't have the financial information of the other 7 teams.

Richard

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Thanks Richard. I was hoping you would comment :ok_hand:

The 2020 expenses related to game day, merchandise and concessions expenses include depreciation of game day and concessions equipment; in 2020, these costs amounted to $385,154 explaining why the expenses are higher than the revenue by $332,191.

Richard

I thought the Als were sold for $1 and the new owners picking up the debts? Thought I heard Brunt say that on The Fan960

So according to this the BB lost $9,695,925 in 2020.

LOL re players whining about sale of ALS murky half million. They will quietly thank the good lord for getting paid at all.

This number -$9,695,925- does not include Government assistance-almost 100% Federal- of 3,142,358 and bad debts-Alouettes- of (428,650).

Once you include these numbers the actual loss amounts to: $6,982,217 for 2020.

Richard

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The team reported around 7 million in losses which is bang on with your figures. Had the teams shut down their operations in April or May until the pandemic is resolved that number would be less than half.

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This was posted by Austin Paxman yesterday on Facebook.

The Saskatchewan Roughriders are in the midst of the worst financial crisis the club has ever seen due to the covid-19 pandemic. As a result, it is expected to take several years for the club to recover.

  • In 2020-21, the Club had excess expenses over revenues of $7.5 million.

  • Total revenues were $10.3 million in 2020-21 compared to $39.6 million in 2019-20.

  • The Club's expenses decreased to $18.7 million compared to $39.7 million the year prior.

  • The Club's largest revenue during the year was the Federal Government's Canadian Emergency Wage Subsidy.

No one should be surprised. It's the main reason why the talk about a XFL/CFL merger/association/partnership. CFL teams have lost a lot of money and need money to survive.
It's pretty bad when your main source of revenue is the government.
Teams need to sell tickets fast but they can't sell tickets because they don't know how many fans they can sell tickets to!!

None of the owners are in a hurry to sell or they would of did it already. I think they will be in a good position going forward if Covid is over. I think the only thing they need is the plan forward. The commissioner said they have did extensive work on their business model, we haven't been a part of and know very little about it. I think they are in a good position . The single game betting looks promising, they discussed revenue sharing/gate sharing, they now share the Grey Cup revenue, league wide sponsorships, TV money which was suppose to be much higher. Then the XFL with their TV money and betting. I think the teams could have something pretty good going forward. Also if the XFL thing happens and the combined league sell franchises that may be another source of income. Also the teams could do a better job of selling league/other teams merchandise. There has to be money in that somehow

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Sounds like Commish speak, what does "extensive work on their business model mean" ?

18.7 million expenses : that is a lot of money for a cancelled season !

As far as I know the league claims most season ticket holders did not request a refund for the cancelled 2020 season. at 2500 fans even 5000 , 10 000 some teams may not have any tickets to sell. This is probably why according to the media a few teams don't want to play unless they have "meaningful" crowds. Meaning they can sell tickets and host the kited season ticket holders.

They would still have a contract for payment on the new stadium, coaches salaries, front office salaries and player salaries. It all adds up

IIRC, coaches salary is topped at 2.8 M and players salary should be close to zero...

Read the Financial Report - Expenses:
$3.4 MILLION to operate IG Field, loss of sponsorship $3.7 MILLION, Long term debt payment $3 MILLION, $4.8 MILLION football operations (salaries)

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Riders Annual Report

No one should be surprised about $17 MILLION loss in revenue from gate receipts.
Or in a normal year sponsorship was $7 Million but dropped to $3 Million.
Or revenue from concession ZERO down from $1.3 MILLION.

And they still had to pay $1.4 MILLION in rent even though no football was played there.
A total of $18 MILLION in expenses even though no football in 2020 .
The key revenue source was "Government funding" (CEWS) of $4 MILLION
A loss of close to $8 MILLION

Of course most teams gone through the same thing.

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