Winnipeg Blue Bombers post $2.1 million operating profit for 2021 despite shortened season

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The Winnipeg Blue Bombers have announced an overall operating profit of $2.1 million for 2021.

The team generated $32.8 million in revenue over a 14-game regular season in 2021, including $2.4 million in revenue from hosting the 2021 Western Final. This was 90 percent of what the club generated in 2019 over the course of an 18-game regular season.

“We are pleased with our overall financial results for 2021,” said president & CEO Wade Miller in a statement. “It is a testament to the continued support of our season ticket members, corporate partners, and fans. The COVID-19 pandemic and the related restrictions that were implemented in 2020 had a detrimental impact on the club. With the support of our community, the club was able to weather this storm, get back on the field to defend our Grey Cup championship and become back-to-back Grey Cup champions for our incredible fans.”

Winnipeg’s total operation expenses were $30.7 million in 2021, including $886,000 in expenses related to COVID-19. The team was able to host games at full capacity in 2021 with a proof of vaccination requirement in effect for those in attendance.

The Blue Bombers entered into a new agreement with Manitoba’s provincial government and Triple B Stadium Inc. including the establishment of a capital fund. The government initially contributed $10.2 million and the team will contribute annually to the fund. The contribution for 2021 was $576,000.

The team was also entitled to a recovery of the 2019 annual excess cash payment of $2.2 million from Triple B, which was used for stadium operations expenses incurred during the pandemic. The club also accessed government programs to assist with the impact of COVID-19 on the club’s operations and received government assistance totalling $3.2 million from the various programs available to organizations that experienced significant revenue declines.

The club recorded an impairment loss on the loan receivable from Valour FC Inc. of $1.3 million as the Canadian Premier League team’s estimated future cash flows are uncertain.

“The Winnipeg Football Club has a strong history of profitability. Our stakeholders continue to play an important role in the success of our club, both on and off the field,” said Miller.