Riders take in record profit

Riders did very well this year. They were only 54,330 over the cap. Story in the Leader Post.

[url=http://www.canada.com/reginaleaderpost/news/story.html?id=9020e6a7-c150-437c-893d-ac1150d61105&k=34674]http://www.canada.com/reginaleaderpost/ ... 05&k=34674[/url]

Wow, thats nice.

1.7 mill.

It is actually a little lower than I thought it might be.
And a lot lower than those Toronto media buffoons were saying....

But consider the play-off run cost 1 million, and the revenues from increased ticket sales and merchandising will have considerable spill-over into the 2008 fiscal year.....nice, very nice!!

I thought somebody said it was 23 million before, but I guess they meant earnings... lol

Good thing we won't lose a draft pick!! Wonder how the other teams did with the SMS? I expect other teams to be over the cap more than us!

Good to see you make a profit. Bank those profits for a rainy day!

They should put the money into the stadium for upgrades and possibly add another 2000 seats. It is an investment that would pay for itself.

Indeed. But I move for a toal of 30,000 seats even. It speaks volumes toward the 'big event' tag Mosaic needs to keep the shows coming in. Also, why not put 2 more decks of box seats on top of the current ones on the East side as part of the roughly 2,200 new seats that I propose? I think, in addition to room for new fans young and old(2000), we could use more corperate room(200) to fit the new and continuing economic gains of Saskatchewan companies and their clients.

kel

Interesting idea about putting a couple of decks, thought I suspect that would up the cost a lot compared to increasing seats in the endzones. I wonder if the structure could take the extra load? As some have pointed out in the main forum, once you start building up, the cost increases significantly.

Now what I wish I knew is the amount of money in the facilities fee's funds. I do not think the $1.7 million includes money collected from that special charge.

I suspect that we will see 30,000, though you have to wonder if they can get it done in time for the start of the season?

Where's the City in all of this? It is a civic facility. They should pony up at least a portion of any improvement costs.

Put it towards a new facility!

I imagine the profits would have been higher but I believe the arrangement with the city means any profit the Riders make is split with them.

Good points. It would take cranes and highly skilled labour to build the decks, and I'd think if they aren't starting this week with an announcement, then it's next years-ville for any stadium upgrades. I concur that the facility fees are separate from the reported profits because, we can assume, that money goes into city coffers before the year is up.

kel

[quote="CFLgameanyone
Good points. It would take cranes and highly skilled labour to build the decks, and I'd think if they aren't starting this week with an announcement, then it's next years-ville for any stadium upgrades. I concur that the facility fees are separate from the reported profits because, we can assume, that money goes into city coffers before the year is up.

kel
[/quote]
I found out that there is about $650,000 in the fund, which is actually controlled by the team and that about $3.2 million has been spent out of the fund since it was started.

Artie, the City has been putting in a lot of money, generally at least matching other funds.

As for the profit sharing, the City charges $200,000 in rent, when the team goes over a certain revenue threshhold, which this year it did. The City says that in thoses season that they collect rent, the money is put back into the stadium. The team actually has a very good deal from the city. I am curious if the new office space that the teams marketing department and business operations are moving into are part of a sponsorship deal (its a bank building), or if they are paying rent and occupancy costs?

I understand that there is a very long wait for construction cranes.

[quote author="leeinq"]

I found out that there is about $650,000 in the fund, which is actually controlled by the team and that about $3.2 million has been spent out of the fund since it was started.

Artie, the City has been putting in a lot of money, generally at least matching other funds.

As for the profit sharing, the City charges $200,000 in rent, when the team goes over a certain revenue threshhold, which this year it did. The City says that in thoses season that they collect rent, the money is put back into the stadium. The team actually has a very good deal from the city. I am curious if the new office space that the teams marketing department and business operations are moving into are part of a sponsorship deal (its a bank building), or if they are paying rent and occupancy costs?


Yea there is another good question ... and yet another, where's a guy like Steve Mazurak when you need him? LOL. Thanks for finding that out for us by the way!

kel

Steve? Have you checked the bar for him?

As for adding seats, there is still time to add some endzone bleachers but that is all for this year. Building on upper deck on the East side would cost a lot of money, and the team is far better off maintaining and renovating the current stadium, and come up with a plan for a new stadium than building that second deck.

For the record.
I think Steve may imbide from time to time. As do I.
I am not attacking him on that basis. That would be the pot calling the kettle black. If it turns out he is a tea-totler, I apologize. If he likes to imbide, I just wish he’d buy me a drink.

I apologize if anyone felt my comment was more than that.
I don’t really apologize for the comment itself, because I hope political correctness has not sucked all the life blood out of life…

Oh, and I am off to the bar myself in a bit…

Let me guess, double shot Gibson coke presses at the Jolly Roger....yee hoo.....

Actually, it was single malt whisky (Lagavulin), neat, at Bushwakkers.
Yee hah!

See the 'bubble' thread for more talk about possibilities for the money.

kel