Roughriders post $3M profit
The Leader-Post June 10, 2010 Black is the colour for the Saskatchewan Roughriders.
Shareholders of the CFL team received the Roughriders’ financial statement in the mail Wednesday in advance of the June 19 annual general meeting. According to the document, the Roughriders posted a record profit of $3,148,500 last season – nearly double the profit from the previous year.
Total gross revenues for the fiscal year were $30.9 million compared to $28.5 million the previous year. Expenses grew from $26.6 million to $27.5 million last year due to increased expenditures associated with the Roughriders’ run to the 2009 Grey Cup and with costs relating to the celebration this year of the franchise’s centennial.
The profit was in part the result of a record $10.2 million in gate receipts – a 10-per-cent increase over the previous year’s total of $9.3 million.
As well, the Roughriders posted a record $7.1 million in merchandise sales in 2009-10, up from $6.5 million the previous year. A third Rider Store, which was opened in Saskatoon, achieved $1.5 million in sales in just five full months of operation.
Sponsorship revenue also increased during the fiscal year, growing 13 per cent to $4.3 million.
The Roughriders have overall net assets of $13 million, up 31 per cent from the previous year. As a result, the club was able to put another $3 million into its Stabilization Fund.
The AGM is set for June 19, 10 a.m., at the Queensbury Convention Centre.
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