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April 8, 2015

WFC Posts $3.9 Million Profit in 2014

WINNIPEG, MB –Today the Winnipeg Football Club released its 2014 Annual Report and announced an overall operating profit of $3.9 Million – an increase of $1 Million from 2013.

These solid results were due to revenue growth of 10.7%, as almost all of the Club’s significant revenue streams had positive increases in 2014, including double digit growth in corporate partnerships, suites, and concessions.  Season ticket revenue and game day tickets, which make up total game revenue, continue to be the Club’s major revenue source at 37% of total operating revenue.

“It is a testament to our season ticket Members, corporate partners and our fans that we continue to make strong gains each year in the financial health of our organization. Our 2014 financials are proof of that unwavering community support,” said Blue Bomber President and CEO, Wade Miller.

The increase in operating expenses relates to the focus on Football Operations where there was an increase of $735,000, due primarily to the new five year collective bargaining agreement with an increased salary cap, along with an increased emphasis on scouting and recruiting.

In December 2014, the Club made its first scheduled payment of $4.5 Million to Triple B Stadium Inc., as a first payment on Investors Group Field.

“From the first day I began as CEO, it’s been a one of our top priorities of WFC Board and myself to always meet our financial obligations as a Football Club. We are pleased to have made our first scheduled payment to Triple B Stadium Inc.,” said Miller.

The Club was able to increase its operating reserve during the year by $500,000 to arrive at a balance of $1.6 Million at December 31, 2014.

“Our fans have shown their support and commitment to us, and we are working hard to give them a product, both on and off the field, that they’ll be happy with and proud to be part of,” said Miller. “Our goal is to win Grey Cups and deliver an incredible fan experience, which is the driving force behind every decision we make.”

 

Click here to download the 2014 Annual Report