Expect announcement by next week about how the CFL will play this upcoming season. The CFL is still hopeful to play the current schedule with fans, however they will be discussing a backup plan that would have the league begin on August long weekend and a second and final plan to start during Labour Day!
I'm ready for some football please.
Great news. I'm very interested to hear how they are going to either option is going to be financed.
The CFL has to go it alone. Each CFL owner has to dig deep into their own pockets to have a 2021 CFL season. The Feds won't give them the money
So by the sounds of it.. same strategy of wait and see if covid crisis abates to return to the same dying business model by way of successive delays before cancelling the season.
The Riders have already stated they've spent their 10 million dollar rainy day fund. There is nothing left in the kitty for another season. Where is the money going to come from? Looking forward to Randy's update on all that.
No cash from the feds....hmmmm I guess 'WE' don't qualify as an important entity in this country,,,We need to hire a lobbyist to get the ear of Ottawa and get some attention ,,,Seems like that's the way the game is played as we don't qualify like some organizations who have/had direct appeal to the PM...as in a charitable sense
The federal finance committee stated last summer that ZERO dollars for pro-sports and that includes a loan.
As a couple of committee members had said to the commish "you had a number of CFL teams that were losing money before the pandemic" why would we loan you money when you can go to a bank for a loan?
You also have one of the richest sports owners in North America - MLSE, so why would you ask for money to bail out the Argos?
They also asked Ambrosie why they didn't go to MLSE to loan the money.
That sounds like an ambush when they were interrogating Randy
The federal government did offer a loan with interest. The issue is the community owned clubs can't take on debt which Ambroise said during the committee hearing
Has nothing to do with MLSE. They're not a bank. The NHL took out a loan for their season so MLSE don't have to fund the Coyotes of the world.
Last year a short term loan wouldn't work for the CFL. There's no way to make payments without their number 1 source of revenue. Depends on how quickly vaccinations happen, it could make sense to take a loan for this season
Well according to Forbes 3 NHL franchise are close to folding. 1 team is in Canada. So maybe the NHL should seek financial help.
I will guess it's the Senators that almost did.
No NHL teams are at risk of folding outright. The NY Post mentioned about 5 teams could declare bankruptcy but as long as teams own or operate their buildings, they won't have trouble finding new owners....just not at anyone's asking price