Winnipeg Blue Bombers post $4.9 million overall operating profit for 2022 season

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The Winnipeg Blue Bombers have announced an overall operating profit of $4.9 million for the 2022 season.

According to the publicly-owned club’s annual financial report, revenue totalled $45.4 million in 2022, an increase of $12.5 million over the shortened 2021 season. The Bombers led the league in average attendance with 28,642 fans last year, the fourth-highest mark in team history, and achieved strong gate receipts of $13.8 million.

The team’s total operating expenses amounted to $40.5 million, $9.8 million more than the previous year. That included $13.3 million allocated to football expenses

“We are extremely proud of our overall financial results for 2022,” Blue Bombers’ president & CEO Wade Miller said in a statement. “These results are a testament to the unwavering support of our season ticket members, corporate partners, and fans.”

The Blue Bombers announced an overall operating profit of $2.1 million following the 2021 season, which was shortened to 14 games. They registered nearly $7 million in losses during the cancelled 2020 campaign but were profitable before the pandemic, posting a profit of $3.5 million in 2019.

The team made an annual allocation of $2.9 million in 2022 to the capital fund established last year with the Manitoba provincial government and Triple B Stadium Inc. to repay the construction of IG Field. They also made a $1 million contribution to the club’s operating reserve, closing out the year with a capital fund balance of $11.5 million and an operating reserve balance of $5.6 million.

The Bombers again recorded an impairment loss of $950,000 on the loan receivable from the Canadian Premier League team, Valour FC Inc.

The Blue Bombers have become the CFL’s model franchise in recent years, winning back-to-back Grey Cups in 2019 and 2021. They qualified for a third straight championship appearance in 2022 after posting a league-best record of 15-3 but fell to the Toronto Argonauts by a score of 24-23.