Riders lose 4.3 mil in 2015

Sounds bad, but this also included the writedows on the Legacy project that included new boards, the boxes, etc leading to the 2013 GC...so in a sense it offsets the huge numbers from 2013. It also includes all money going to CC and BT...so that is off the books for the future. I would imagine the merch machine took a hit last year as well....which is kinda the fanbase's voice to the organization. W/O the Legacy project they did technically profit around a mil...so this was anticipated I guess

It is a shame that they only get a few years out of the money they put into the Legacy project, but it is what it is I guess. Long n short...this is stacking paper differently...not really a loss of cash from hand...depreciation/amortization of assets...could be scary for this year lol

That's not good.

I'm no expert on the Rider organization finances, but as an outsider looking in it appears that Hopson made some very questionable decisions especially around long term extensions for guys like Chamblin, Marshall, and Taman. I think Hopson did some good things in the organization but these are definitely the blemishes on his record.

It was announced years ago that there were going to be big appreciation of assets for last year, and this year will be like 3 times as bad. It is cashflow loss, not cash. Take the assets out and they turned about 800k on a dismal year, plus the books for this year won't show the roughly 700k for BT and CC as they put them into last years cashflow ledger, even if they haven't paid them yet. It could be a pile worse for 2016 depending on how and when they land the new assets into the ledger...don't make too much out of this.

I'm commenting more on the money that they squandered first on Greg Marshall who coached for five or six games and then on Taman and Chamblin.

I'm sure they are still in good shape financially, but it's just unfortunate that they wasted big money on these three over the past 5 years or so. At least we got a Grey Cup out of it.

funny how things changed as soon as hopson stepped down. can only hope the new guys know what their doing.

But these amortization numbers were announced when Hopson was still around...it is not like they haven't known about that for several years, and Hoppy was the one who overdid contracts on his way out the door. Hopson did a lot of good for the club...but he also allowed the tandum to be putzes around the front office after their championship.

Yeah I have to agree depop that it's pretty hard to lay this on the new guys when it was all ready there when they took over. What happens from here on out is what they will be accountable for which is fair.

For the most part yup. He still has another 5.1mil for the same thing this year and a pile of cost coming for moving into the new facility. That said, he was the accountant so was the one who stamped the ledger lol