Bombers turn down hosting Grey Cup cuz they are broke

Read on Twitter the Bombers are so broke they can't put up the money to host the Grey Cup, that is terrible. Brand new Stadium built so they can host the big game and they don't don't have two nickel to rub together and they haven't even started paying for the place yet.

Maybe all part of the negotiation game with the city for putting up money for hosting? :?

give em time... give em time!!

they'll likely give the game to either Hamilton or Montreal if Winnipeg can't do it.

Not sure, the piece said the Cup going to BC.

I don't get it. Isn't the point of hosting Grey Cup that you will reap a huge windfall?

Can't they take out a loan that will pay dividends once the tickets start selling (which, frankly, shouldn't take long)?

This makes little sense.

[url=http://blogs.theprovince.com/2013/02/19/lions-looking-to-host-grey-cup-14/]http://blogs.theprovince.com/2013/02/19 ... ey-cup-14/[/url]

With over a 100 million loan already, it is going to take years to pay back the interest alone !!

Because twitter is the go to source for accurate information? The only new information is that BC is making a pitch to host and the BC gov't is chipping in $2.7 mil towards the bid. Seriously, with the profit that comes with hosting a grey cup why would a team needing funds to help pay back a loan not host the game? You should be ashamed of starting a thread like this. Come back when you have something more than some guy on twitter says.

Read the above article from The Province

I did. Did u?

The only other city which has expressed interest is Winnipeg, which opens a new stadium this year. But the high cost of staging the game [b]might [/b]be an early drawback for a franchise which has numerous stadium startup costs.
This article offers no proof that Winnipeg is out of the running for the game. Its just conjecture on the writers part and doesn't provide anything in the way of validation that Winnipeg has withdrawn its interest from hosting the game for any reason, including costs. There's nothing there that says the bombers turned down the opportunity to host as HfxTc has decided to name this thread.

If you had to borrow over 100 mil and the interest occurring daily on that 100 mil. I would say you are Broke also !!

Well at least we didn't have the government throwing money at us saying here please find a place and build yourself a new stadium and almost screwed it up royally. While the bombers have turned profits most of the last few years or come close to breaking even, your own owner has been pumping money into your team every year to cover its huge losses. And at least our government did say FU to the bombers when it came time make a decision on building the stadium like the Hamilton city councillors did to Bob Young.

Regarding hosting the Grey Cup, given the profit a Grey Cup brings in which is in the $10-20 million range depending on a variety of factors, why would they not bid to host the game? Even if they were broke, considering the profit at stake for both the team and the host city they could borrow the extra money or do a team-government partnership. To come up with an extra $5 mill on top of the $100 is peanuts if they can make $10-15 mil additional profit to put towards that loan. Whether the Bombers follow through on their interest and submit or have submitted I don't know, but just because BC will bid for the game does not mean defacto that the Bombers have declined hosting the game because they are broke.

Still have to pay to buy the rights for the game up front and the twitter post came from one of your sports reporters right there in Winnipeg. Why would I be ashame. I've done nothing wrong here. There's been reports there is no money to flesh out the Bomber coaching staff, now this. Pretty obvious the team is broke.

I would think the bank would say no to another loan, even if it is a penny :roll:

bye the time that stadium is paid off, it's going to have to be renovated :lol:

It certainly is fair to wonder how they will manage to be competitive and meet their obligations. They’ve also asked to defer payment on a remainder of a loan balance of 800k loan from the city that Bauer claimed had been paid off If I remember right. This will likely end up like the Skydome scenario with a friend of a friend picking everything up for a buck and the loan.

who was the reporter? Why did you not post it then and only posted a link to a blog post that offers a BC reporters opinion.

…I think B.C. is wishful thinking that the Bombers ‘will refuse’ the Cup…It’ll be nice to showcase the game in our new digs and you can bet we are very much in the running to host…Where this bullcrap from the province rag is coming from is nonsense…It’s called ‘inventive journalism’ with a big empasis on the inventive…lol lol :lol: :lol:

Because my twitter feed slides in anywhere from 500 to 1000 posts an hour. I was not going to go digging but I did the next best thing and put up the article discussed but you discredit it so I'm not sure what a tweet would do for you.

Let's hope so. I think the people of Winnipeg deserve it after spending that kind of money on a beautiful facility. Not sure your org is being too well run.

…Well yes ,we’ll be happy to host…AND you can bet the local corporations and intitutions, who would have an interest in the game being in the Peg, will certainly be only too glad to come forth…They are very supportive of the team and they do have the resources…:wink: