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Author Topic: Winnipeg Football Club Posts Operating Profit of $3.5 Million in 2019  (Read 340 times)
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« on: May 14, 2020, 01:41:20 PM »

Winnipeg Football Club Posts Operating Profit of $3.5 Million in 2019

WINNIPEG, MB., May 13, 2020 - The Winnipeg Football Club today released its 2019 annual report and announced an overall operating profit of $3.5 million.

The Club also recorded a payment to Triple B Stadium Inc. of $2.2 million based on the Club's available Excess Cash at December 31, 2019, as defined in and required by the Club's Management Agreement with Triple B. This is the sixth scheduled annual payment the Club has made to Triple B, fulfilling the Club?s ongoing obligations.

"Financially, 2019 was a strong year for the Winnipeg Football Club," said President & CEO, Wade Miller. "Credit goes to our season ticket members, corporate partners, and fans for the important role they play in the success of our Club, both on and off the field. Our team should be proud of our financial results and winning the 107th Grey Cup Championship."

The Club noted an increase in revenue which is attributable to the Club's strong merchandise sales in November leading up to the 107th Grey Cup, and carrying over into December as the city celebrated its team?s Grey Cup victory by purchasing 107th Grey Cup championship merchandise.

As of December 31, 2019, the Winnipeg Football Club had an Operating Reserve of $4.1 million. During the year, the Club also paid down $580,000 of debt associated with the earlier stadium project capital expenditures incurred by the Club that were required to complete and begin operating the stadium. The Club also spent $1.1 million on capital expenditures during the year. 

The Winnipeg Football Club's 2020 outlook has dramatically changed as a result of the COVID-19 pandemic, resulting in the postponement of the start of the 2020 CFL season and an economic slowdown being experienced worldwide. If the season were to be shortened or cancelled, the financial effects would be severe and would result in a significant net loss for the year.

"The Club continues to monitor the situation in conjunction with the CFL and is reducing, deferring, and eliminating expenditures where possible, and at the same time exploring all possible alternate sources of revenue during these difficult times," said Miller. "The support that our season ticket members and corporate partners have shown us throughout has been overwhelming and encouraging."
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Donny C
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« Reply #1 on: May 14, 2020, 02:57:22 PM »

AWESOME!!
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Pigskin
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« Reply #2 on: May 14, 2020, 03:53:06 PM »

At the end of the day we made a profit of nearly $600K. Considering we didn't host a playoff game this year and we had to purchased Grey Cup rings, I am okay with $600K.
« Last Edit: May 14, 2020, 06:44:32 PM by Pigskin » Logged
blue_or_die
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« Reply #3 on: May 14, 2020, 05:10:15 PM »

At the end of the day the made a profit of nearly $600K. Considering we didn't host a playoff game this year and we had to purchased Grey Cup rings, I am okay with $600K.

Not to mention having to contribute 600K to the Als.
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107th Grey Cup champs and WE ARE LIT
blue girl
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« Reply #4 on: May 14, 2020, 07:55:47 PM »

Not to mention having to contribute 600K to the Als.
Without that they would have made over $1,000,000.00 and that's after paying the stadium loan.
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blue_or_die
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« Reply #5 on: May 14, 2020, 11:46:12 PM »

Without that they would have made over $1,000,000.00 and that's after paying the stadium loan.

Yep. Not bad for a team that hadn't won jack until the Grey cup game.
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107th Grey Cup champs and WE ARE LIT
TecnoGenius
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« Reply #6 on: May 15, 2020, 05:31:15 AM »

And I still haven't gotten my butt down to IGF to get my GC Champs gear!!  Cheesy Grin Cheesy Cheesy

You can add at least $1 million more revenue once I do that!  Wink Wink Wink Grin Grin

Just my luck that just as I was about to finally go out that way during office hours the darn virus hits.  Hey, is the IGF store opening back up again soon?

(Seriously though, way to go WFC with such good results!  I wonder how much the AH bobble-heads wore into the bottom line?  Kidding: whatever they cost they were worth it!)
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Stretch
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« Reply #7 on: May 15, 2020, 10:31:29 AM »

  Hey, is the IGF store opening back up again soon?

Today @ 11am.
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Money is no object...especially when you have none.
Jesse
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« Reply #8 on: May 15, 2020, 02:34:30 PM »

And I still haven't gotten my butt down to IGF to get my GC Champs gear!!  Cheesy Grin Cheesy Cheesy

You can add at least $1 million more revenue once I do that!  Wink Wink Wink Grin Grin

Just my luck that just as I was about to finally go out that way during office hours the darn virus hits.  Hey, is the IGF store opening back up again soon?

(Seriously though, way to go WFC with such good results!  I wonder how much the AH bobble-heads wore into the bottom line?  Kidding: whatever they cost they were worth it!)


Seriously?!?

Dude....
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My wife is amazing!
TecnoGenius
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« Reply #9 on: May 16, 2020, 04:27:37 AM »

Seriously?!?

Dude....

Haha, you bet seriously!  I live 35 mins away during office hours, I'm often not awake in office hours due to my FT job, and I'm putting in major time as main (well, 50%ish) childcare for a baby (well, toddler now) meaning I get very few "escapes".  Now you know why I'm so bummed if there's no CFL season... it eliminates my favorite escape.

But if they're open again now, then this is a great time to go do it because traffic is still light... just need to convince the wife.

I'm going to get my butt down there next week and do my part to support the WFC!  I'll buy double what I was planning.  Triple!  Ha, I'm glad I waited as it gives me a great excuse to go hog wild.  To wife staring angrily at pile of Bomber gear: "But the WFC needs our money!"  I hope they still have GC toques!!
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Never go full Rider!
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