Over 11 million in profits for Bombers in 2015 if GC proceeds and regular season monies combined. Nice ![url=http://www.winnipegfreepress.com/sports/football/bombers/bombers-profit-from-grey-cup-tallies-71-million-375265561.html]http://www.winnipegfreepress.com/sports ... 65561.html[/url]
Very nice indeed.
Although the stadium repayment still needs to come off this, it's still a nice figure in a year where attendance was down for them.
7.1 Million profit for the GC is still very nice despite it took was late in the game to sell out. I guess the price-point was on a mark after all.
With the BMO GC Capacity expected to be in the 35-38 K range, I think smaller capacity venues with higher ticket prices are the way moving forward....saving up for when tickets go on sale!
I expect even more profit for Toronto. The profits will ensure the Argos stay out of the red for years to come!
Talking about profit and the television revenue from Bell.
For TSN 1,2,4,5 I have to pay $18 a month or $25 month for a combination package. TSN RDS has 9.1 million subscribers. Are they all paying $18/month? That is $163 million per month in revenue. Is this correct? CFL collects 40 million?
Quote from the Internet
TSN has about 9.1 million subscribers paying for its channel, according to the Canadian Radio-television and Telecommunications Commission
If the Bombers made ~$4M before the Grey Cup, I have to assume the Ticats made at least that. That is amazing!!!
Kudos to them. I was a little worried with how ticket sales for the cup were going and that they ended up downsizing it. It has sure changed from when the GC brought in a few extra buck to being something that can stabilize the books for a few seasons.
So nice to see the owners finally getting returns after years of many of them struggling to keep the teams going. This stability... if maintained for a few years...will draw serious investor increases and will fall in line with a great time for the CFLPA to get a sizeable increase in cap. I fully believe this period of proving stability was a necessity for the long term.
Who said now owning a CFL is not a financial bonanza?
The Toronto media will never report this.
Once you exclude the net positive impact-$5,631,725- of the 2015 Grey Cup and include the $4,500,000 for the yearly payment of the stadium, the Blue Bombers had an operating deficit of $548,339; in 2014, the operating deficit was $575,914.
The 2015 game revenue were at $9,794,778 compared with $10,010,748 in 2014. Without concerts.activities other than football that generated revenue of $5,878,393 in 2015, compared with $3,585,931 in 2014. the operating loss would have been quite negative/ much more higher than the $548,339.
In the next years, game revenue will have to increase by at least 7% a year and expenses by not more than 2%, in order to generate an operating surplus. They can't count on a Grey Cup being held in Winnipeg for many,many years.
How much longer do they have to pay $4.5M/yr?
Quite a long time, IIRC. On the plus side, once it is finally paid off, they should have quite a valuable asset on their hands.
Under the terms of a stadium management agreement, the Bombers are slated to make additional payments to Triple B of $4.5 million in 2016 and 2017, a $3.5-million payment in 2018 and payments of no more than $4.4 million every year until 2058, when the loan is payable in full.
WOW! That is a LOT of money! Without the Grey Cup, after their payment, they would have LOST money is 2015. Will it bankrupt the team? Is it worth it?
Remember though that that repayment is a bit different from an operational cost because it's going toward an asset. It's not like payroll and electricity costs, which just flow out. I'd imagine that in 2050, for example, that $4.4 per year will seem like peanuts compared to player salaries and other operational costs. Of course, the stadium will need costly upgrades along the way and rebuilding by then, but the property itself will likely have appreciated considerably.
Fair enough. I am sure smarter people than me have looked at the numbers and are okay with them. I just thought it was a little steep and, in 2050, the stadium will be a little OLD.
Yes, it's just like having a mortgage on your house or business, you can't pay it all at once it will run for 20 or 30 years.
The Ticats are doing a similar thing in Hamilton, the original Pan Am stadium funding was for a 15k stadium and the Ticats and the city agree to pay for a 24k CFL sized stadium. The Ticats are paying for it over 20 years along with the city and the city also gets a share of concessions etc and the "naming rights" some people would call it "rent"
I should imagine that the Riders will be contributing millions every year towards their new stadium too.
Unfortunately stadiums seldom appreciate unless they are standing for 90 years in places like New York...
Tim Hortons Field is bought and paid for! No money for the Stadium was borrowed
The City of Hamilton used $45M cash from their future fund to pay their share.
The City of Hamilton got a brand new $145M, 24K seat Stadium built and Hamilton City taxes have not had to go up one thin dime to pay for the Stadium,
The TiCats have a 20 year Lease with the City of Hamilton to rent the Stadium, that is much, much more than they were paying at Ivor Wynne Stadium
The TiCats also own the naming rights that they bought off the City.
The TiCats pay $450K/yr lease, $200K/yr to the City for Club seats and Boxes and $750K/yr naming rights
If they get a soccer team another $150K/yr
We may not have the most elaborate Stadium in the League or in the nicest part of the City, but it is bought and paid for and it gives the Team a way to prosper for many years to come.
It is also a huge investment into a part of the City that has really never seen these kinds of investments
IIRC the Bombers only make a payment if they make a profit.
But Grover it’s not “bought and paid for” . The government does not have cash sitting around, it’s financed by bonds/debentures loans and the Ontario and federal taxpayers are paying for it. Ontario has a huge debt and one of the reasons why is that they funded things like the Pan Am games. THF was not a “freebie”, taxpayers paid a lot of money for it. As for as the Ticats are concerned it may be a bit of a “freebie”, if it is like you say $450k a year then over the 20 year lease they are paying $9 million of the city of Hamilton’s $45 million portion.
Next you will be telling us that Hamilton is getting a “free LRT system”