Bombers release 2007 Financial Report

[MotorSportsGord]

http://www.cfl.ca/index.php?module=n...23458&writer=0

Thursday, April 10, 2008

WINNIPEG (CFL.ca wire) -– The Winnipeg Football Club released its 2007 financial results today and the report contained both good and bad news.

The good news was the football club experienced an increase of 12.2 per cent in operating revenue in 2007 compared to the previous year. It brought in $13.1 million in operating revenue in 2007 compared to $11.6 million in 2006. The increase was largely due to improved game day revenue, season ticket sales, concession sales, Bomber Store sales and corporate sponsorship revenue.

As a result of increased revenues and sound fiscal planning, the team is now in the best financial position it has been in decades. As of Dec. 31, 2007 the team had an accumulated surplus of $4.3 million. That is a turnaround of close to $10 million compared to the same time in 2000 when the football club was almost $5.5 million in debt.

[EskiPhenom]

Re: Bombers release 2007 Financial Report

I'm not really surprised they took at net loss for the year. Paying out bonuses, plane rides, accommodation etc. for the extra weeks of a playoff run is expensive.

Good news overall.

[Inquiring Mind]

Re: Bombers release 2007 Financial Report

Not a bad year, as EP mentioned, playoff runs are expensive and usually money losers, especially if you win (Riders are an exception in light of their monumental merchandising during their run). So between all the added cost, and only a so-so crowd during the round they hosted that probably took a big bite out of their bottom line. Even so, they came out virtually breaking even before the stadium study and all the debenture activity.

Anyone have any idea how all their debentures work there? I'm just curious about the method behind the madness, so to speak. Do they still have some outstanding?

[turtleman85]

Re: Bombers release 2007 Financial Report

Another reason why we need to get our stadium built.

[Numberz]

Re: Bombers release 2007 Financial Report

You'd think that since they only played 2 playoff games, and one of them was at their stadium, that they would have made money and not lost money...

[UPP]

Re: Bombers release 2007 Financial Report

THey would've been lucky to break even with their own playoff game, and as stated earlier, GC appearances tend to be money losers: having to fly family and team staff to the game, etc. I know in 89, the Riders lost money with the GC expenses and rings, etc. Like was also stated earlier, the Riders probably only made money because they sold out the playoff game and had over 5 million in merchandise sales.

[gizmo fan 2]

Re: Bombers release 2007 Financial Report

You'd think that since they only played 2 playoff games, and one of them was at their stadium, that they would have made money and not lost money...

Say again, 'Berz?

They played three playoff games.

ESF vs MTL, EF @ TOR, GC @ TOR

[Inquiring Mind]

Re: Bombers release 2007 Financial Report

Say again, 'Berz?

They played three playoff games.

ESF vs MTL, EF @ TOR, GC @ TOR

Take note of his sig....

[UPP]

Re: Bombers release 2007 Financial Report

In fact, it was noted in an article from Winnipeg that the Bombers did not buy the rights to that playoff game so they wouldn't have made a profit from it.

[GeeBrr]

Re: Bombers release 2007 Financial Report

Well we are trying to get a stadium built, and if this report doesn't prove that we need it to get done, I don't know what will.

[Rayminator]

Re: Bombers release 2007 Financial Report

Interestingly enough, this report doesn't answer the million dollar question: Were the Bombers over the cap last season or not?

[GeeBrr]

Re: Bombers release 2007 Financial Report

Interestingly enough, this report doesn't answer the million dollar question: Were the Bombers over the cap last season or not?

We had our audit, Bauer said we were under...nothing official though.