Winnipeg Blue Bombers post $4.9-million overall operating profit from last year
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Hey there, time traveller!
This article was published 13/04/2023 (878 days ago), so information in it may no longer be current.
WINNIPEG – The Winnipeg Blue Bombers just fell short of a third straight Grey Cup title but the 2022 season was a profitable one for the community-owned franchise.
The Bombers posted a $4.9-million overall operating profit last year, according to its 2022 annual report that was released Thursday.
“We are extremely proud of our overall financial results for 2022,” said team president/CEO Wade Miller. “These results are a testament to the unwavering support of our season ticket members, corporate partners, and fans.”
The Blue Bombers posted a CFL-best 15-3 regular-season record last year. The club advanced to the Grey Cup game in Regina but its quest for a third consecutive championship ended with a heartbreaking 24-23 loss to the Toronto Argonauts.
The club’s revenue totalled $45.4 million in 2022, an increase of $12.5 million over 2021. A big reason for that was playing a full 18-game regular season as opposed to a shortened 14-game campaign in 2021.
Winnipeg ranked first overall in CFL attendance last year and recorded gate receipts of $13.8 million.
“We attribute these strong ticket sales to our season-ticket members and fans,” Miller said. “We had five home games where attendance surpassed 30,000 fans in 2022, matching the record set in 2013, which was the inaugural season at IG Field.”
Total operating expenses were $40.5 million, up $9.8 million over 2021. The increase was also the result of playing a full season last year.
Winnipeg’s overall football operations expenses totalled $13.3 million last year.
In 2021 the Bombers entered into a new agreement with the Manitoba government and Triple B Stadium Inc. that saw the establishment of a capital fund. The franchise made annual allocations of $2.9 million to the fund and $1 million to its operating reserve.
The Bombers had a capital fund balance of $11.5 million and operating reserve balance of $5.6 million as of Dec. 31, 2022.
Winnipeg recorded an impairment loss on the loan receivable from Valour FC Inc. of $950,000 as the Canadian Premier League team’s estimated future cash flows continue to be uncertain.
This report by The Canadian Press was first published April 13 2023.
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