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Rich

Bomber News: 2019 Off Season

Rich

For minor off-season Bomber news.  Any significant stories or news that is likely to generate significant discussion may have its own thread created.  General CFL news can be found here.

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3 hours ago, Noeller said:

*waits for TBurg to say we're in cap hell and can't afford to pay 1st round prices*

I say there's no way we should be in cap hell. Got rid of 7 starters salaries, including 3 all star NI's and we got rid of some higher priced backups like Wild and Leggett. Paid some extra to a few players and added Jefferson and Rose.

Likely it means we don't want to pay 2 more first round draft picks. In which case, make sure to draft someone who is going to the NFL this year.

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4 hours ago, JCon said:

But we're probably holding money for AAF and NFL drop-outs, including a top-tier WR. 

Im sure this is the case. I suspect we have good money for a wr and a lber even. This should be the most cap room weve had post FA frenzy in the last 3 years or so. 

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John Hodge responded to being called out on the bombers not being in SMS trouble in the comments.  Here's what he said "Thanks for the comment, Gerry. I should have been more clear -- I think the Bombers have some cap space, but they have most of it set aside for cast-offs from the AAF and NFL. I don't believe they want to spend a lot of it on draft picks. Remember that Bighill wasn't the only big raise the Bombers handed out this off-season -- Jackson Jeffcoat and Brandon Alexander got paid, too. Geoff Gray will also be making first-round money as well."

We were all right.

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48 minutes ago, Colin Unger said:

John Hodge responded to being called out on the bombers not being in SMS trouble in the comments.  Here's what he said "Thanks for the comment, Gerry. I should have been more clear -- I think the Bombers have some cap space, but they have most of it set aside for cast-offs from the AAF and NFL. I don't believe they want to spend a lot of it on draft picks. Remember that Bighill wasn't the only big raise the Bombers handed out this off-season -- Jackson Jeffcoat and Brandon Alexander got paid, too. Geoff Gray will also be making first-round money as well."

We were all right.

Isn't Hodge a teacher by trade. Essentially isn't he a fan with a website?

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14 minutes ago, JCon said:

WINNIPEG FOOTBALL CLUB POSTS OPERATING PROFIT OF $2.6 MILLION IN 2018

WINNIPEG, MB., April 16, 2019 – The Winnipeg Football Club today released its 2018 annual report and announced an overall operating profit of $2.6 million.

 

WINNIPEG, MB., April 16, 2019 – The Winnipeg Football Club today released its 2018 annual report and announced an overall operating profit of $2.6 million.

“We are pleased with our overall financial results for 2018,” said Winnipeg Football Club President & CEO, Wade Miller. “These results are a testament to the strong support from our fans, season ticket members, and corporate partners. Our team should be proud of our financial results.”

Total operating profit was down from 2017 as Investors Group Field saw a much quieter year in 2018 with no concerts or other major events other than the Manitoba Marathon.

Total operating revenue reached $33.4 million (an increase of $970,000 over 2017) and is attributable to the Club’s decision to internalize food and beverage operations at Investors Group Field in 2018, thus not only improving the game day experience but also earning 100% of the revenues, less the associated expenses. This was offset by decreases in game revenue which was down $1.4 million (10.5%) as the Club did not host a home playoff game in 2018, and stadium management revenue which was down $1.8M in comparison to 2017.

Operating expenses totaled $30.8 million, an increase of $3.4 million over 2017. While the Club continues to invest in its on-field product, overall football operations expenses increased in 2018 by $470,000 as a result of the Club’s success in playing in both the Western Semi-Final and Western Final playoff games. There were expected increases in expenditures in marketing, administration and game day expenses associated with bringing food and beverage into the Club’s internal operations. There was also a decrease in overall stadium occupancy costs of $830,000 as a result of fewer non-football events at Investors Group Field.

Consistent with prior years and since the Club moved to Investors Group Field in 2013, the Club alone continues to fund the public transportation program for transit and park and ride services to and from Investors Group Field. The Club has operated the public transportation program since 2013 and has paid for all expenditures related to the program, totalling over $4.6 million. In 2017, Triple B Stadium Inc. formally acknowledged their legal obligation to fund a portion of the public transportation program, retroactive to 2013 and onward. The Club will continue its efforts to recover the payments due from Triple B.

The Club recorded a payment to Triple B of $2.7 million based on the Club’s available Excess Cash at December 31, 2018, as defined in and required by the Club’s Management Agreement with Triple B. This is the fifth scheduled annual payment the Club has made to Triple B, fulfilling the Club’s ongoing obligations. Payments will continue over the next four decades based on the Club’s Management Agreement with Triple B that requires the Club to use its best efforts to generate sufficient Excess Cash through the collection of entertainment tax and facility fees to be applied to the annual payments. “Meeting our financial obligations continues to be one of the top priorities of the Winnipeg Football Club.” said Miller.

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4 minutes ago, TBURGESS said:

Am I reading it right? Did we make $2.6 Mil and then pay out $2.7 Mil meaning a $100K loss? Or.. is the $2.6 Mil over and above the payment meaning a $2.6 Mil gain?

First one. Not sure if it's full $100k loss or if there is rounding in there. 

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Not the  big name receiver that we are looking but...

Rodney Smith was released by the Argos yesterday. He’s a big guy @ 6’6” and has 250 receiving yds in 9 games last year. 

Hope the Bombers will bring him in for a look see.

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34 minutes ago, M.O.A.B. said:

Not the  big name receiver that we are looking but...

Rodney Smith was released by the Argos yesterday. He’s a big guy @ 6’6” and has 250 receiving yds in 9 games last year. 

Hope the Bombers will bring him in for a look see.

At that rate of production, he would have 500 yards in 18 games. Pass.

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I thought annual payments towards the stadium debt were $4.5 million, not the $2.7 million quoted in the article.  Anyone know if that is for this year only and the debt payment will revert back $4.5 million next year?  As a reminder, the province wrote off the debt, but they did not forgive the debt.

It's great to see the revenues rise despite no events at the stadium last year - no GNR concert, no Nitro Circus, no women's soccer.  Looks like there will be no concerts or events at the stadium this summer either other then the soccer team which will not provide the Bombers with any additional revenue.  

Expenses increasing by $3.2 million is pretty substantial.  The additional two away trips certainly would not account for such a huge increase...especially since the home team in those games has to give a substantial part of their gate revenue to the visiting team/league.  I'm sure it can't be more then high five figures/low six figures for those away games anyways so why the huge increase? 

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10 minutes ago, blueandgoldguy said:

I thought annual payments towards the stadium debt were $4.5 million, not the $2.7 million quoted in the article.  Anyone know if that is for this year only and the debt payment will revert back $4.5 million next year?  As a reminder, the province wrote off the debt, but they did not forgive the debt.

It's great to see the revenues rise despite no events at the stadium last year - no GNR concert, no Nitro Circus, no women's soccer.  Looks like there will be no concerts or events at the stadium this summer either other then the soccer team which will not provide the Bombers with any additional revenue.  

Expenses increasing by $3.2 million is pretty substantial.  The additional two away trips certainly would not account for such a huge increase...especially since the home team in those games has to give a substantial part of their gate revenue to the visiting team/league.  I'm sure it can't be more then high five figures/low six figures for those away games anyways so why the huge increase? 

There is no fund to pay for renovations and improvements. The cost increase could partially be due to the renos they've done. Further, until the lawsuit is settled, someone needs to pay for the repairs addressing design issues. 

Interest alone is $4M a year on the loan. 

Maybe the NFL will play a preseason game here. That should bring in some revenue. 

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17 minutes ago, blueandgoldguy said:

Looks like there will be no concerts or events at the stadium this summer either other then the soccer team which will not provide the Bombers with any additional revenue.  

I am not sure why you would think this. Valour FC is owned by the Winnipeg Football Club and stadium revenues always benefit the Winnipeg Football Club. The WFC assets include the Winnipeg Blue Bombers, Valour FC and the Lease of IGF. Anything that happens at IGF that is not UofM related is revenue for WFC.

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51 minutes ago, GCJenks said:

I am not sure why you would think this. Valour FC is owned by the Winnipeg Football Club and stadium revenues always benefit the Winnipeg Football Club. The WFC assets include the Winnipeg Blue Bombers, Valour FC and the Lease of IGF. Anything that happens at IGF that is not UofM related is revenue for WFC.

Valour FC will likely need all those revenues attributed to them to break even and even though they are owned by the Bombers they are their own entity and have to account for their own expenses and revenues.  Perhaps the only additional revenue the Bombers will receive from the Valour will be rental fees for use of the stadium.  This will be fairly minimal given the team will likely average 5,000 per game (hopefully more).  And that would be a little strange considering they are the owners of the team...shifting around money.  

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3 minutes ago, blueandgoldguy said:

Valour FC will likely need all those revenues attributed to them to break even and even though they are owned by the Bombers they are their own entity and have to account for their own expenses and revenues.  Perhaps the only additional revenue the Bombers will receive from the Valour will be rental fees for use of the stadium.  This will be fairly minimal given the team will likely average 5,000 per game (hopefully more).  And that would be a little strange considering they are the owners of the team...shifting around money.  

Everything rolls up into WFC. Profit on onside is the same as profit on the other. 

5,000 people is quite a bit when you have 15 home games a year. 

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8 minutes ago, JCon said:

Everything rolls up into WFC. Profit on onside is the same as profit on the other. 

5,000 people is quite a bit when you have 15 home games a year. 

I'd be very surprised if WFC saw a profit this year. Or the next couple for that matter. Just too many costs that won't see a ROI for a bit at least.

Edited by Bigblue204

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5 minutes ago, Bigblue204 said:

I'd be very surprised if WFC saw a profit this year. Or the next couple for that matter. Just too many costs that won't see a ROI for a bit at least.

I think they've got a good chance this summer with all the hype and build up. 

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