Grey Cup Profit: $7.1M

[Rich]

http://www.bluebombers.com/2016/04/11/winnipeg-football-club-generates-7-1-million-of-net-profits-from-103rd-grey-cup/

 

Quote

WINNIPEG, MB – The Winnipeg Football Club today announces the club generated $7.1 million of net profits from hosting the 103^rd Grey Cup game and Festival events.

“The profits were aligned with our original projected targets for the Winnipeg Football Club. We would like to thank all our amazing season ticket members, corporate partners and fans across the CFL for making the 103^rd Grey Cup a resounding success.” said Wade Miller, President and CEO of the Winnipeg Football Club. “We also thank all of our volunteers, committee members and staff for their tireless efforts throughout year-long planning and week of the Grey Cup. We appreciate the support of the City of Winnipeg, Province of Manitoba, and the Winnipeg Convention Centre for helping us set the new standard for future Grey Cups.”

The 103^rd Grey Cup profits more than doubles the $3.2 million of net profits the Club earned from hosting the 94^th Grey Cup game and Festival in 2006.
The Club already paid $1.5 million of the Grey Cup profits to Triple B Stadium Inc., as Triple B funded stadium improvements in advance of the 103^rd Grey Cup.  The remaining $5.6 million of Grey Cup profits forms part of the Club’s long-range plan to provide financial stability going forward.

Additionally, the economic impact of the 103^rd Grey Cup on the City of Winnipeg from visitor expenditures and local resident disbursements was substantial; the total combined activities of the week-long celebration contributed $80 million in benefits, primarily to the City of Winnipeg.

The Winnipeg Football Club is ready for the 2016 season and looks forward to hosting its first preseason football game on Wednesday, June 8^th against the Montreal Alouettes. The club will kick off the 2016 regular season on Thursday, June 24, also against Montreal.

[Super Duper Negatron]

I will just leave this here. I wonder if Paul is going to post a follow-up.

http://www.winnipegsun.com/2015/08/21/smallest-grey-cup-crowd-in-decades

Quote

Miller told us back in April the big game would generate profits of between $4 million and $7 million.

He wasn't talking this week, other than through a hastily prepared statement

 

Edited April 11, 2016 by Super Duper Negatron

[Bomber_fanaddict]

That's a hefty lil profit for the club! I assume this is only from the GC and doesn't include what they made during the season? Have they announced those numbers yet?

[FrostyWinnipeg]

So they're down to $90m debt. Not too bad

Did they make money this year tho before the GC? That's the question. Attendance was down compared to year before was it not?

Edited April 11, 2016 by FrostyWinnipeg

[bigg jay]

25 minutes ago, Bomber_fanaddict said:

That's a hefty lil profit for the club! I assume this is only from the GC and doesn't include what they made during the season? Have they announced those numbers yet?

According to Wicek, it's GC money only & the regular season numbers will be announced Wednesday.

[szaroz71]

Nice to see a hefty profit. We need more Grey Cups in the prairies. I was there for the weekend and it was a great time. I'm pretty sure that 36000 of the fans were in front of the Rum Hut just before kickoff!

[kelownabomberfan]

The bottom line is looking good, despite the product on the field.  They've bought themselves some time with these GC profits, now start winning guys.  Time's up.

[Bomber_fanaddict]

1 hour ago, bigg jay said:

According to Wicek, it's GC money only & the regular season numbers will be announced Wednesday.

Good to know! Hopefully they see some numbers in and around last years numbers ($3.9m). Even if they make another $2m on top of this it would be nice!  

[Mr Dee]

 

[Super Duper Negatron]

9 minutes ago, Mr Dee said:

 

Another blow to the armchair accountants!

http://www.winnipegfreepress.com/sports/football/bombers/Costly-losses-340007732.html

[SPuDS]

but but but... we did so badly we must have lost money!

 

[pigseye]

Nice little rainy day fund they got going, and suckit to the clowns who said a new stadium couldn't work.

[Atomic]

Suck it clowns!

[bb1]

Hats off to the real heroes, those fans that stick by this team no matter what. The CFL ìs the only league left that really stirs my heart,players that play not just for the big payday. It's nice to hear some good news for the Big Blue.?

[mbrg]

I expect Wade Miller's resignation on my desk in the morning.

[IC Khari]

Edited April 11, 2016 by IC Khari

[iso_55]

I would like the Bombers to put the $7.1 million to their stadium debt.

[Mark H.]

The evidence is clear. Just give this city something to cheer for. Give people a team that's even decent - they'll be there 

[iso_55]

We don' t have teams that win on a regular basis so when they do Winnipeggers support them.

 

[JCon]

Let's not forget that a lot funding came from the Province and City. So before Wade goes patting himself on the back too much, we all kicked in to help secure these "profits". 

 

[LeBird]

I wonder how much they made on the FIFA games? That should have brought in a fair amount. US sold out. Or did ole Bladder take it all?

[Fan Boy]

9 hours ago, JCon said:

Let's not forget that a lot funding came from the Province and City. So before Wade goes patting himself on the back too much, we all kicked in to help secure these "profits". 

 

I am sure everyone is happy the Bombers are working on their portion of the debt. I know government involvement can be a sore point but just think Arlington Texas owns the 1.3 Billion dollar stadium the Dallas Cowboys play in. The Dallas Cowboys make a a bit of money too (620 million in 2014) and are worth supposedly 4 Billion dollars but could not afford to build their own stadium (or chose not to). The Bomber are paying a big part of IGF .

So when you hear the Bombers are paying down their debt even if it is slowly then I would have to say it is a good thing. 

[JCon]

2 hours ago, Fan Boy said:

I am sure everyone is happy the Bombers are working on their portion of the debt. I know government involvement can be a sore point but just think Arlington Texas owns the 1.3 Billion dollar stadium the Dallas Cowboys play in. The Dallas Cowboys make a a bit of money too (620 million in 2014) and are worth supposedly 4 Billion dollars but could not afford to build their own stadium (or chose not to). The Bomber are paying a big part of IGF .

So when you hear the Bombers are paying down their debt even if it is slowly then I would have to say it is a good thing. 

No doubt, not denying that but...

The Bombers are paying down their debt, with the help of more, borrowed,  public funds.

The City, the Province both benefitted greatly with having the Grey Cup here. Probably even earned more money than they kicked in for the game. But, the Bombers also were the benefactors of a new stadium, a renovated Convention Centre, etc. This is probably the best case scenario where all parties benefit, so thumbs up!

[The Unknown Poster]

$4million in operating profit for a total of $11m+.  Not too shabby.

[Atomic]

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