Saskatchewan Roughriders post $1.1 million net operating loss for 2023 CFL season

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The Saskatchewan Roughriders posted a net operating loss of $1.1 million in 2023, according to the team’s annual report summary.

The team cited poor on-field performance, high inflation, and high interest rates for the loss. Saskatchewan finished 6-12 for the second straight year, losing their final seven games to finish fourth in the West Division.

The Riders reported revenue of $35.6 million and expenses of $36.7 million, though there were positive earnings of $1.5 million before interest and depreciation. The team has net assets of $49 million with a stabilization fund that has grown to $9.6 million.

Saskatchewan had total revenues of $39.7 million in 2022 with expenses of $35.8 million. When factoring in $3.3 million in non-operating activities, which includes the revenue generated from hosting the 109th Grey Cup, the team’s total profit was $7.2 million.

The franchise indicated the 2022 CFL title game generated almost $70 million in economic activity and added $25.7 million to Saskatchewan’s GDP. The team committed $750,000 back to the community through its Grey Cup Legacy programs.

The 109th Grey Cup saw the Toronto Argonauts upset the Winnipeg Blue Bombers 24-23. It was the first CFL championship game played in Regina since 2013 and the first ever played at Mosaic Stadium, which opened in 2017.

The Roughriders reported a loss of $7.5 million during the CFL’s cancelled season in 2020 but made a lot of that money back in 2021 when they recorded a net profit of $3.9 million.

Saskatchewan finished second league-wide in regular season attendance for the second straight year in 2023, averaging 27,648 fans per game. In 2022, the Riders averaged 27,431 fans per game, which was their lowest average turnout since 2006 and a 4.9 percent drop from 2021.

The Saskatchewan Roughriders (0-0) will visit the Edmonton Elks (0-0) on Saturday, June 8 at Commonwealth Stadium with kickoff slated for 4:00 p.m. EDT.