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Thursday, April 19, 2018

BLUE BOMBERS POST BIG PROFIT

The Winnipeg Football Club today released its 2017 annual report and announced an overall operating profit of $5.1 million – an increase of $2.3 million from 2016.

“We are pleased with these very strong 2017 financial results,” 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 success in 2017.” Revenue reached a total of $32.5 million in 2017 (an increase of $2.9 million over 2016), and is owed primarily to increased attendance at Investors Group Field in 2017. The Club hosted a home playoff game, leading to increases in game revenue and WFC revenue and also hosted three major non-football events at Investors Group Field.

Total game revenue increased by $1.6 million (14%) as average attendance for the pre-season and regular season increased from an average of 25,935 fans in 2016 to over 27,400 in 2017, an increase of 6%. Additionally, the Club experienced growth in corporate partnerships, retail sales, and food and beverage revenue thanks to the strong local support of our Bomber fans. In addition, the hosting of non-football events at Investors Group Field are important contributors to the Club’s overall financial performance, while inviting a broader fan base to our stadium. "Investors Group Field has welcomed more than just football fans since its opening, with concerts, soccer, and the Manitoba Marathon finish line inviting a much broader group of Winnipegers into our beautiful facility. These non-football events have been important in the Club’s financial performance as well," said Miller. 

Operating expenses totalled $27.4 million, an increase of just $700,000 or 2.4% over 2016. While the Club continues to invest in its on-field product, overall football operations expenses remained level in 2017 due to savings in many areas as a result of having a healthy, winning football team.

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 $3.8 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 $3.5 million, the Club’s fourth annual scheduled excess cash payment as required by the Club’s Management Agreement with Triple B. This was in addition to paying the City of Winnipeg $1.3 million, which was related to an earlier Winnipeg Enterprises Corporation debt that was assigned to the Club by the City of Winnipeg in 2005.

(Bombers PR)

9 comments:

Anonymous said...

This central Canadian city (Winnipeg) has now become the flagship franchise (nobody compares) of the CFL. The Blue Bombers world class Investors Group Field venue/facility now paying off big time dividends. Kudos to all on such a great job on setting things straight.

Anonymous said...

Lol.

Anonymous said...

30 years no champions and still supporting the team. Great fans

Anonymous said...

It's great you guys made a profit. Its Winnipeg. Prairies bleed football! But keep it in perspective. Your last grey cup got what 36000?? Did you even have to add any temp seats for that? Or take them down. Your great fans filled out about 90 percent capacity last year yay..how winnipegish. Your team scares no one with richie halls d. You got lucky with injuries. You should be league leaders in attendance with all of manitobas population living in Winnipeg but you don't. Good fans yes. The best? Look west fella.

Anonymous said...

I guess they finally got all those fired ex coaches off the payroll.
LF

Anonymous said...

Congrats to the Bombers. Having strong financial support for all teams is great for the CFL.

I'm not sure I'd agree they're the lone Flagship CFL Franchise but maybe if they won a cup, they would be.

and to the question, I believe they added 3,000 temporary seats for the Grey Cup. Went from 33,000 to 36,000.


Russ from Saskatoon

Anonymous said...

Good for the Bombers to make a profit last year.

Did the structural cracks in the new stadium all get fixed and paid off?

Anonymous said...

Serious small man comments on here again. Pathetic small town hicks .Winnipeg built an appropriate sized stadium at an appropriate price for the appropriate population.My taxes continue to rise here and the last time I was in the Peg I didn't have to wait on Portage ave for an effin Train. Anyone check the latest count for Eagles tickets? Inappropriate venue for the population ..they'd of been lucky to sell out the Brandt center..Did the Riders even post a profit last year? If they did every penny should have gone into paying for that great white elephant.

Anonymous said...

I love mosaic 2.0 plus it sells out for rider games. People travel far and wide to do so. What's winnipeg's excuse? 700k in Winnipeg (I believe or more) to Regina's 230k ... pretty sure our fan base (who pay a stadium tax) stack up pretty well to winnipeg's thank you.