WINNIPEG – The Winnipeg Blue Bombers posted a $2.8 million dollar profit in 2016, according to their annual financial report released Wednesday.
But that number does not include a $4.5 million dollar payment to Triple B Stadium Inc.
That goes towards paying down the Bombers debt on construction costs on Investors Group Field. President and CEO Wade Miller says that payment is not included in profit or deficit calculations because it’s made after the fact. The team dipped into its reserves to make the payment.
“That $4.5 is the maximum payment,” says Miller. “Every year there’s a calculation done based on entertainment taxes, facility fee and excess cash.”
The team says its operating revenue was $27.1 million dollars. That is down four per cent from the year before. President and CEO Wade Miller is blaming the decrease on the fact there were fewer events held at Investors Group Field.
The Tim Hortons NHL Heritage Classic weekend was the only event other than a Bomber game in 2016.
Winnipeg hosted concerts, the FIFA Women’s World Cup and the Grey Cup in 2015, helping to produce a larger profit than usual at $4.4 million bucks.
Total game revenue was also down in 2016 but revenue from corporate sponsorships increased, according to Miller.
Expenses for 2016 came in at $24.2 million dollars.