Riders preparing for $10 million deficit due to COVID-19 pandemic

Screenshot courtesy: Saskatchewan Roughriders

The Saskatchewan Roughriders are going to be deep in the red after 2020.

According to CJME reporter Britton Gray, the Riders are preparing for a $10 million deficit this fiscal year due to COVID-19.

During its annual general meeting Wednesday evening, the CFL team announced that if no games are played in 2020, the Roughriders will see a $30-million loss in revenue and a $20-million decrease in expenses leading to a $10-million deficit.

“This is the biggest financial crisis the Saskatchewan Roughriders have faced in 110 years and I say that with a deep appreciation of our history,” Riders president and CEO Craig Reynolds said.

“I grew up through the telethon years and was a big fan of the Saskatchewan Roughriders when we had lots of financial challenges. Never in our history have we had an essentially complete loss of revenue and an inability to generate significant revenue to cover costs.”

Britton also reports: the Roughriders have already been massively affected by the pandemic, with the 2020 Grey Cup no longer being hosted in Regina. The event now is set to take place in the Queen City in 2022. The team is also planning for its stabilization fund — a reserve of $7,618,228 — to be completely depleted by late fall.

The Riders posted a loss of over $200,000 for the 2019-2020 fiscal year.