REGINA -- The Saskatchewan Roughriders reaped the financial rewards of winning the 2013 Grey Cup game.
The CFL team will announce total gross revenues of $68.8 million for the fiscal year of 2013-14 at its annual general meeting on June 10 at the Queensbury Centre.
Playing host to the 101st Grey Cup game on Nov. 24, when the Riders beat the Hamilton Tiger-Cats 45-23, added $25 million to the team's gross revenues of $43.8 million.
Revenues from the Grey Cup game aren't included in the team's total operating revenues because the Riders play host to the game so rarely. The Grey Cup game generated $9.3 million in profits. Combined with the $1.1 million in profit the Riders generated before the Grey Cup game, the club posted a record profit of $10.4 million for the fiscal year.
Really great news out of Regina yesterday. That number of $68.8 in gross revenue including the Grey Cup is amazing. I was looking up some numbers that is higher or equal to about 10 NHL teams in Gross Revenue.
Back in 91 the Riders hit 4 million in gate reciepts for the first time... Strangely enough they were paying an average salary of 56000 dollars back then... This is all BS... If the Riders really only made 1 million doallars, there needs to be an inquiry to see where literally tens of millions of dollars was stole. There are are either liers working for the Riders or thieves. Maybe both
looking forward to seeing the actual release though...the profit still seems low for that kind of revenue.
I know that because of doing their own merchandising their operating budget is significantly higher
I know they pumped a significant amount of money into the stadium last year (15.3 mil amortized over 5 years with I think the highest portion coming out in the year of the GC...which makes sense)...that was the GC legacy project bomber_empire speaks of...7,000 seats, corporate boxes and new video & ribbon boards were major upgrades to the stadium, and I believe that about 8 mil of that was supposed to be from the 2013 season while the extra seating was actually there, with the rest essentially being paid for over a few seasons by the boxes
I believe their non-for-profits donation requirement was about 1.2 mil for 2013
I had figured a revenue of over 40 mil, plus 18 mil or so for the GC, so about 60 mil, and I had figured that would probably translate to 7-8 mil in profits. As I was about 8 mil low on my in my estimate, I would have thought it would then be somewhere around 15 mil...about 50% higher than it was. That said I can't recall if I have factored that bigger portion of the legacy repayment in there.
A huge thing to remember is the merchandizing though...most teams in most leagues do licensing arrangements. When that happens the royalty from the sales is all that contributes to revenue, not the entire sale. To put it in perspective, if a team has a licensing deal for say 20% and sells a jersey for $100 they have 20 bucks revenue. The same sale for the Riders is the full 100 bucks...but they assume all the overhead and costs of doing that retail business. It does rather look their revenues look out of proportion with other teams....way more revenue on the merchandise, but that is not a direct correlation to money in the pocket.
Seems low, but the official report will be interesting
That is exactly what is done with the community owned teams. When Edmonton annouced their profits theymentioned the rainy day fund. Also reinvesting money into facilities that may generate more profit. The old spend money to makemoney.
The temp reno's on Mosaic came at a cost of 17 million I think. Those reno's included 3,000 more seats thatwere theatre style seats and not old benches. The top of the sections also added suites which are all sold out and also the Pilsner Pub section which is also packed every game.
Opening of a Rdierville store in Saskatoon and then moving training camp their helped to make there record breaking merchandise sales recrdedbreaking again
The Stamps now being the 4th franchise owned by the Flames LP. The Stamps part of the synergy group may make dollars but the Stamps also contribute to the total LP profit that shows up on those books.
According to the little 2013 at a glace pamphlet I got, the Riders also contributed $1.67 million to non-profit/charitable organizations (e.g. community rec programs, school rec programs, sports organizations, etc all around the province). The more the Riders make, the more that is returned into the community through various endeavours. This all brings down the profit to revenue… Other privately-owned teams might not do as much of this type thing.
And yes… there will probably be a massive build-up in the stabilization fund and stadium fund after this year. But we have a new stadium to build, and we’ve been through lean years in the past (telethons, $2 million in debt forgiven in the early 2000s, etc), so…
Look I think its fantastic what has been built in Saskatchewan. It shows it can be done. Montreal came back from the dead, Winnipeg now... Its done through creativity, hard work and giving customers a great experience. Not excuses and empty promises... Telling the fans you can't give the players THEIR cut of the TV money because you have to invest in web sites and digital apps (that MRX is selling LOL) is not going to convince me anyway so probably not the players either.