Bombers thank fans for $400K profit
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Hey there, time traveller!
This article was published 06/04/2011 (5355 days ago), so information in it may no longer be current.
There were losses, lots of them, on the football field for the Winnipeg Blue Bombers in 2010.
But the financial bottom line released today by the football club is bathed in black, not red.
The Bombers unveiled their 2010 financial statement of operations at a media conference and the most astonishing number is a $409,191 profit — this despite a 4-14 season and another November without playoff football — and as a result the club now has net assets totalling $4.3 million.
“We’re not shocked,” said club president Jim Bell. “We knew last year as we were going through the season that the support just continued. And I’d like to think we paid attention to how we did business in 2010. We are not cheap, we are disciplined and we will continue to do that.”
Bell outlined three key reasons for the profit in the midst of a poor season:
1. Fan support: the Bombers played to 90 per cent capacity in 2010 as ticket revenue increased by $186,416 in 2010 from 2009.
2. Concerts: The Eagles, Bon Jovi and Rock on the Range events generated a profit of close to $700,000.
3. Cost control: the Bombers cut football operations spending by $61,000 as well as their marketing and administration costs by $95,000. As well, the club didn’t have the big hit of a year ago when it paid out $981,950 in severance costs to former head coaches Doug Berry and Mike Kelly and their staffs.
At the same time, game revenue was up, the annual cheque from the CFL increased as did corporate revenue from the community.
Most of all, the juicy bottom line reinforces the power of the Bomber brand in a market suffering through the longest current Grey-Cup drought in the CFL and second-longest in club history.
“It just encourages us on a daily basis that our fans are really behind us,” said Bell. “One way we look at it: they invest in us, they expect a dividend and we look forward to giving them that. We are focussed on having a winner and all of us within the walls of the organization believe we are on the cusp of having a winner. Our fans believe we are on the cusp of having a winner and when you have that feeling within the organization and the community I think it makes for a great partnership.
“Our fans have been tremendously patient and with that winning is going to be that much more sweeter.”
ed.tait@freepress.mb.ca
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