Ti-Cats expected to be profitable for 1st time in 40 years!

The black and gold will actually be in the black for the first time in decades!

Geesh - I knew it had been quite a while since the Cats had made money but I didn't realize it may actually be 40 years since the team made a profit. We're lucky to have had owners like Bob Young willing to lose so much money on them over all those years - otherwise we likely wouldn't have the Cats any more here in Hamilton with a financial track record like that.

[url=http://www.torontosun.com/2015/05/25/tiger-cats-expect-to-be-in-the-black-for-first-time-in-decades]http://www.torontosun.com/2015/05/25/ti ... in-decades[/url]
The last time the Hamilton Tiger-Cats are believed to have turned a profit, Angelo Mosca had just hung up his cleats.

That's why this could be a historic season in the Hammer.

Ticats president and CEO Scott Mitchell is under the impression that the last time the organization made money was 40 years ago, in the mid-1970s. Thanks to the brand new Tim Hortons Field, where this year the Ticats will play a full season for the first time, owner Bob Young should finally be in the black.

"It's been well over three decades and potentially four that we've had a facility in operation that you could claim as sustainable and hopefully profitable," Mitchell said Monday during a league sponsored conference call. "Everybody understands that's the reason why Bob Young got involved in this thing, was to get the franchise to a point of stability. He's been an unbelievable owner."

Mitchell said the Tiger-Cats would have posted a profit last year had they been at Tim Hortons Field for the entire season as expected, but construction woes forced them to McMaster's Ron Joyce Stadium for the first two months of the campaign.

New stadiums bring many new revenue streams, including concerts and expensive seating opportunities, and Tim Hortons Field is no exception. While he wouldn't reveal the number of season tickets that have been sold, Mitchell expects the park to be sold out for every home game.

"Our expectation is we will have a sold out season at Tim Hortons Field, which has a capacity of about 24,000 people," Mitchell said.

Bravo. :thup:

well deserved and good on Bob for hanging in there. :thup:

It does appear that Hamilton native/billionaire Michael DeGroote was the last Cats owner (Jan. 1, 1974 – Feb. 1, 1978) to actually make a profit on the team...

from Wiki:
DeGroote had personally become wealthy enough that he was able to purchase the Hamilton Tiger-Cats of the Canadian Football League.
He was the last owner of the Tiger Cats to make profit off of the team.

How dare they turn a profit for the first time in 40 years! Clearly if they are finally able to attain profitability, the players should have gotten a much larger raise! :roll:

In all seriousness, good news all around though. If the Cats can turn a profit, it's now at a level with which the new Argos' owners should be able to do something. 3 cheers to some league-wide financial stability.

Great job, Bob.
Great news for the CFL's Ontario interest.

I wouldn't say we are out of the woods yet. Keep in mind Hamilton has been contending for the Grey Cup and has a new stadium. That said, I'm glad Bob finally gets to see some of his money back.

Let's hope so, but I don't think the Argos will have the revenue stream that Hamilton has. The money makers in Hamilton as mentioned above, are the Private Suites, the Club seats, share of the naming rights. The Argos don't get a share of the naming rights at BMO and they don't have as many private suites and club seats. Let's hope also that the Argos fans that didn't show up at the Rogers Centre haven't disappeared altogether.
It's interesting to see the amount of sideline in stadium advertising flashing up at the TFC games, they have the big players like Coca Cola and Heineken, hopefully the Argos could tap into that.

None of us know what is in the lease between the Argo's and BMO/mlse , they might indeed get a sum of money when the naming right are renegotiated , I mean with the high CFL TV numbers, it is one of the reasons MLSE wanted the Argo's at BMO so they could get much more money from naming rights. No reason the Argo's should not benefit financially from that as they will be one of the reasons why MLSE will get more $$ .

Argos will have MORE private suites and club seats at BMO than the cats have at THF.

BMO field has 4 club areas, THF has 2.
BMO field has over 40 suites, THF has 30.
BMO field has 1400 club spots, THF has 1010
BMO field and THF field will both have endzone terracing.
BMO field and THF will both have sideline seating.

The renovation at BMO has added a massive amount of luxury premium seating.

Scott Mitchell was on PTS. He said the team is now in the black. He gave all the credit to Bob Young. He also made a joke about the TFC which I missed.

So glad to see the team making money. Thank God for Bob Young.

Both Brunt and Blair seemed to think that THF is in the wrong spot but...

Scandalous! All profit should go to the players!

Ya. It couldve been in a better spot but that debate has been beaten to death. Time to make the most of what we have. And with the new LRT running by the stadium and the frontage on cannon street the location is now being used better than when it was ivor wynne.

Stephen Brunt was right when he said (paraphrasing), "It may not be much and it may be in a bad spot but people love that stadium".

Remember, though, that now (or soon) the Argos are essentially 2/3rds of MLSE. MLSE paid the city $10 million for 20 years of the naming rights and sold the first 10 of those years to BMO for $27 million. As you mention, having the Argos as an anchor tenant gives MLSE much more leverage in selling those rights to a new sponsor. Bell and Tannenbaum might even be able to recoup their initial investment in the Argos just by selling the naming rights to the stadium. It should be interesting to see how those negotiations go and who ends up with their name on the stadium.

On another note, according to Wikipedia the stadium is called National Soccer Stadium rather than BMO field during FIFA games. Would it be possible to sell different naming rights for different events/leagues? Or do most people, and more importantly, most broadcasters just call it BMO even when FIFA events are played there?

Not sure how many Red Hat shares Bob Young (still) owns but it is up 50% this year. Wow!!! Good for him. Could not have happened to a nicer person <-- being sincere! :smiley:

National Bank raised its Dividend by 2 cents today. Nice!!! Good for me. Could not have happened to a nicer person <-- being sincere! :wink:

Don't know if he still has stock he left Red Hat way back in 1999 and then set up Lulu in 2002.
His aunt sure made a killing on Red Hat stock, she donated $40 million to Hamilton Community Foundation.

[url=http://en.wikipedia.org/wiki/Bob_Young_%28businessman%29]http://en.wikipedia.org/wiki/Bob_Young_ ... nessman%29[/url]

Hopefully Red Hat's story is made into a movie one day. When it went public in 1999 (six million shares) offered at $14.00us, two days later they were worth north of 70.00. The potential profit over those two days for the entire share offering was 348 million. How many of these initial shares Young and his entourage chose to buy/keep ??? Its safe to say he owned 50 percent of the initial offering could have been as high as 100 since he bought out Marc Ewing.

Today Red Hat is worth over 13 Billion dollars. So even if Bob hung on to 10 percent of the shares, those would be worth over a billion dollars and with the market the way it is. Possibly more.

IMO one of the greatest success stories of the tech bubble and certainly the most successful open source venture in history.
Amazing combination of guts and vision by Young.

Wonderful Aunt and family. Bravo!!! :thup:

Got a facebook posting today offering a pre-sale of game day tickets. Decided to take advantage of it and grab a pair for the Sept. 19th game against Edmonton. I surprised by how few tickets were left, sell-outs for all nine games this year seem to be an almost certainty...

YIKES! I have not been to the new stadium yet. I need to grab a few tickets.