The Saskatchewan Roughriders have taken a strong first step to offset the losses of the COVID-19 pandemic, posting a $3.9 million profit for the 2021-2022 fiscal year.
The profit came as a result of the team generating $33.8 million in revenue compared to $29.9 million in expenses. Merchandise sales more than doubled from the previous year, while sponsorship revenue grew from $3.5 million to $7.2 million.
“I think with the numbers we have released today that recovery has happened and it’s happening quickly, think that’s full credit to our fanbase, to sell out two home games last year in a midst of a pandemic it’s quite of an accomplishment for fans returning to the stadium,” president and CEO Craig Reynolds told 620 CKRM.
“Our fans and our crowds have been really, really young, really, really diverse, lots of families, lots of young people, so we’re seeing a good demographic at our games as we get into the fall we’re going to see some higher attendance numbers, it’s something that we’re all conscious of.”
The club lost $7.5 million in 2020 when the CFL season was cancelled due to the onset of the COVID-19 pandemic. This was comparable to the losses of the league’s two other community-owned teams as the Winnipeg Blue Bombers lost $7.0 million and the Edmonton Elks lost $7.1 million.
The Riders are set to host the Grey Cup on Nov. 20, which should provide an extra financial boost for the club. This will mark the first time the CFL’s championship has been played in Regina since 2013, four years prior to the opening of Mosaic Stadium.
Saskatchewan lost $0.2 million in 2019 after posting a combined profit of $2.3 million over the three prior seasons (2016-2018).
The Riders currently sit fourth in the West Division with a 5-5 record having lost four of their last five games.