Eskimos remain under the cap, make a profit

Esks control costs, make a profit

Under the category of financial miracles you’ll find the Edmonton Eskimos’ bottom line for the 2009 season.

Somehow, a team that finished the year with 70 players under contract (two more than they went into training camp with), made more money from its football operations than it did last year.

And, they managed to be under the CFL competitive cap by $30,000 even though player expenses hit the bottom line by $267,000.

Eskimos president Rick LeLacheur credited several factors that helped the team stay in the black.

A whopping increase of $901,000 in game-day revenue was helped out with a standing-room-only crowd for the Saskatchewan game in September.

And, a couple of road trips to Calgary combined with lower-priced flights helped hold the line on away games.

But, LeLacheur was particularly impressed with the way GM Danny Maciocia was able hold the line on player expenses.

“Our football operations guys, led by Danny, did a great job controlling the costs,? said LeLacheur. “While the nine-game (injured) doesn’t go to the cap, it still goes to your financial bottom line.

“It was a little more expensive year that way, but our business guys did a great job, particularly on season seats and casual sales.?

The good news is that there’s even better days ahead as the Esks will harvest some huge cash from the Grey Cup for the 2010 statement .

“We certainly expect to make a good dollar on the Grey Cup, but we also commit a fair amount of that money to community activities,? LeLacheur said.

That will help the Esks increase their original commitment on the North Central Community Recreation Centre from $5 million to $7.5 million.

“We’ve actually committed some of the Grey Cup money to that project,? LeLacheur said.

The Eskimos have received $20 million from the province and City of Edmonton for the facility they’ll move their offices into in December and the team will be responsible for the facility’s operation.

After taking a huge hit due to the 2008 stock market crash, the team’s overall bottom line improved by $920,000.

“That’s mostly because of the investment return,? said LeLacheur. “On the football operations side, we did pretty well. We’re pretty happy financially.?

The team’s stabilization fund now stands at a whopping $8,246,112.

[url=http://www.edmontonsun.com/sports/football/2010/02/23/13001041-qmi.html]http://www.edmontonsun.com/sports/footb ... 1-qmi.html[/url]

thats so awesome. good for them. i actually thought they were a million dollar club though. i would like it if they posted the finalcials of all the clubs like that. it might be out there, but i can never seem to find it.

I see something much different in the Esks 2009 Financial Statement. The Esks (and Riders) are community-owned teams which are not intended to be profit maximizing businesses. They re-invest most of their profits in community infrastructure and longterm investments...while keeping the announced profits moderate.

Along with a $400,000 profit, the Esks have: $2.3M in cash, $5.1M Investments, $1.5M Accts Rec., $8.2M Stabilizaton Fund and $29M in longterm investments. This totals $47.5M in Cash and Net Assets, but with only a $400,000 announced profit. Then the Toronto media can still complain that "all CFLteams lose money or make peanuts, " :roll:

The Riders have revenues $12M higher than the Esks, and are in much the same boat. What to do with all their money? The Riders office staff has doubled in size over the past 3 years, for example...while player's salaries are restricted.

Check out the Financial Statement here: (the meat is towards the end)

[url=http://www.esks.com/uploads/assets/EDM/pages/media/Edmonton_Eskimos_2009_Financial_Report_cp.pdf]http://www.esks.com/uploads/assets/EDM/ ... ort_cp.pdf[/url]

Good for the Eskimo's. It's good to see the CFL teams doing well.

Hopefully this continues. Nice to see the CFL and its teams strong financially.

Big money and profit for both these teams.
Of course there is money to be made in the CFL if done right.
Although both are privately owned, it would not surprise me if the Als and Stamps are next in line and making money.

Thats a really valid point and should be remembered by those who suggest that CFL teams "barely" make money. Moving funds from one column to another can quickly alter the "bottom line". Teams with private owners are not bound to the same practices.

Teams with private owners can be every bit as creative.

Sorry, what I meant was that privately owned teams don't need to hide profits if they don't want to because they don't have to show their books to anyone while a community owned team by in large are essentially non-profit organizations so they are quick to funnel access monies into other things like investments and other acquisitions etc

This is why I have said community owned teams are the way to go. Economic and financial spinoffs a so great that various cities in my opinion would make it a no brainer if you have a pop of 400 -1 mill people build a stadium and buy a franchise. With the way costs are restricted if a team averages 23k fans at 37 bucks a ticket makes 7.7 mill in gate receipts enough to make any team profitable when you factor in concessions parking etc.

The cities I would like to see with teams are Windsor Ontario, Quebec City, Ottawa, and Halifax. This would take the league to 12 teams 2 even divisions so with 6 teams making the playoffs would more sense.

I concur, Canadian expansion is long overdue :thup: the only concern IMO would be the Eastern team, is Halifax a Football town?

Somebody should start a thread.....

LOL ok Artie I get it :slight_smile: