Grey Cup Profit: $7.1M

[IC Khari]

What great support, 25+ years without a Grey Cup sniff! I'd like to see the Riderfans do that ... 

[Rich]

59 minutes ago, Atomic said:

If their non GC profit is actually 4 mil, imagine what they will pull in when the Team is winning.

Hopefully at least an extra 500k so they can make their $4.5M mortgage payment without dipping into the rainy day fund.

[Fraser]

Net profit  is not an exact measure  of ones ability to pay debt so you don't  actually need 4.5 million  in net profit  to make a payment on your  debt  of 4.5 million 

[iso_55]

3 hours ago, Atomic said:

If their non GC profit is actually 4 mil, imagine what they will pull in when the Team is winning.

They were talking about that on the Stamps forum. One poster couldn't believe it (surprised like we are here) & said imagine the money the Bombers would make if they had a winner.

[TrueBlue]

Quote

WINNIPEG, MB – Today the Winnipeg Football Club released its 2015 Annual Report and announced an overall operating profit of $4.4 million – an increase of $500,000 from 2014.

 

“Financially, 2015 was a very strong year, our operating and Grey Cup profits totaled $11.5 million” said Winnipeg Football Club President & CEO, Wade Miller. “This was due in part to several events held at Investors Group Field including the FIFA Women’s World Cup 2015, concerts, and the 103^rd Grey Cup Game and Festival. These financial results speak volumes about our fans, corporate partners and season ticket members, helping us continue to generate strong profits each year.”

 

Total operating revenue was $28.3 million in 2015, an increase of $1.5 million over 2014, and primarily relates to an increase in stadium management revenue as a result of additional events held at Investors Group Field in 2015. Strong local support by Bomber fans, season ticket members, and our corporate community helped the Club maintain its 2014 corporate revenue levels. 

 

Operating expenses came in at $23.9 million, an increase of just $1.1 million over 2014. Over 75% of this increase is attributable to stadium occupancy costs as a result of additional events held at Investors Group Field. Actual costs to operate and maintain Investors Group Field have also been higher than our pre-opening estimates. Football operations expenses are consistent with 2014 as the Club’s emphasis on scouting and development remains the cornerstone of operations. The Club continues to incur significant game day transportation expenses associated with fees paid to Winnipeg Transit to provide transit service to Investors Group Field. 

 

The Club announced earlier this week a profit from hosting the 103^rd Grey Cup game and events of $7.1 million, more than double the profits from the last time the game was hosted in Winnipeg in 2006. In addition, the Club has paid $1.5 million of these profits to Triple B Stadium Inc. for funding stadium improvements in advance of the 103^rd Grey Cup.

 

In December 2015, the Club also made its second scheduled payment of $4.5 million to Triple B Stadium Inc. “We have long maintained it is one of the top priorities of the Winnipeg Football Club to meet our financial obligations, and we will continue to strive to do so,” said Miller. 

 

Excess of revenues over expenses was $5.1 million for the year. These favourable results allowed the Club to improve its financial position, make certain capital investments, reduce debt and build operating reserves.