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Posted May 22, 2019, 4:10 PM
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ハルウララ
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Join Date: Jul 2009
Location: Toronto
Posts: 12,853
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Quote:
Originally Posted by esquire
^ Now that you mention it, Winnipeg Football Club is a good double-barrelled formal name for both the Bombers and Valour
But anyway, even though the stadium is owned by BBB, the Bombers have on numerous occasions made the connection between stadium event dates and overall team profitability. I'm not sure exactly how the arrangement is structured, but it appears to be the Bombers (and not the Bisons) who making money from additional events like the FIFA Women's World Cup, Heritage Classic, major concerts or what have you. I suspect it would be the same way for Valour.
(And speaking of special events at IG Field, I wonder if the Packers/Raiders game is still going ahead? It's now less than 3 months away...)
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It's explicitly connected in the team's annual report:
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Originally Posted by Winnipeg Blue Bombers Annual Report, 2018
The Winnipeg Football Club had another solid financial year in 2018. As was expected in our planning, the strong financial success achieved in 2017, from hosting a number of significant events including Canada Soccer’s Women’s National team for a match against Costa Rica, Nitro Circus, the 2017 Canada Summer Games closing ceremonies, and a Guns N’ Roses concert, was not expected to be achieved again in 2018. Also, while the Bombers once again advanced to the CFL playoffs, we did not financially benefit from hosting a playoff game in Winnipeg in 2018.
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Also mentioned in the Bombers' revenue breakdown:
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Originally Posted by Winnipeg Blue Bombers Annual Report, 2018
Total revenue in 2018was $33.4 million, an increase of $970,000 (2.9%) over last year. Winnipeg Football Club revenue increased by $3.9 million (32.8%) as the Club brought the food & beverage operations at Investors Group Field internal to our operations in 2018, not only improving the game day experience but also earning 100% of the revenues less the associated costs. Corporate partnership revenue grew by over 15% from 2017 thanks to the strong local support from Bomber fans and the corporate partners, a demonstration of outstanding community support that the Club greatly appreciates. There were also offsetting decreases to revenue as a result of less Bomber home games and special events at Investors Group Field. Game revenue decreased by $1.4 million (-10.5%) as the Club did not host a home playoff game in 2018, and also due to stadium management revenue which was down $1.8M in comparison to 2017
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Emphasis added mine.
And in expenses:
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Originally Posted by Winnipeg Blue Bombers Annual Report, 2018
Total operating expenses in 2018 were $30.8 million, an increase of $3.4 million (12.4%) over 2017. Football operations expenses increased by $470,000 (3.9%) as a result of our success in playing in both the Western Semi-Final and Western Final playoff games. There were also expected increases in expenditures in marketing, administration and game day expenses
associated with bringing food and beverage into the Club’s internal operations. There was also a decrease to overall stadium occupancy costs of $830,000 (-13.1%) as a result of fewer non-football events at Investors Group Field.
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Emphasis added mine.
Quote:
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Originally Posted by CoryB
^^ Except the "Winnipeg Football Club" board (aka Bombers) is not directly responsible for IG Field so on general principle they are going to care less about "filling event days" and more the profit/loss position of the teams themselves.
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From the Bombers Annual Report:
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Originally Posted by Winnipeg Blue Bombers Annual Report, 2018
Triple B’s purpose is to develop, construct and own a stadium on leased land at the University of Manitoba, for use by the Winnipeg Blue Bomber football team and the University of Manitoba Bisons football team and for the use of amateur athletics and other public purposes. Under the terms of the Management Agreement, the Club will manage and operate the stadium in exchange for primary access to the facilities.
The Management Agreement requires the Club to establish its own Operating Reserve by way of annual allocations of up to $500,000, until the reserve reaches a maximum of $5,000,000. The Club maintained an Operating Reserve balance of $3,595,000 as at December 31, 2018 (2017: $3,095,000). The Management Agreement also requires the Club to maintain Required Working Capital each year. The Required Working Capital balance was $6,085,000 as at December 31, 2018 (2017: $6,950,000) which includes $1,756,789 (2017: $2,521,613) due to Triple B. Under the terms of the Management Agreement the Club is also required to use its best efforts to generate sufficient Excess Cash as defined in the Management Agreement, and collect entertainment tax and facility fees to meet the following payments.
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Emphasis added mine.
Annual Report (2018): https://d3ham790trbkqy.cloudfront.ne...ual-Report.pdf
Essentially, more events at the stadium = more revenue for Bombers, even if it's indirect and even if effectively funneled through Triple B Stadium Inc.. Triple B technically owns the stadium but the Bombers manage and operate. The profit/loss of the teams is tied-into the stadium and that would include the $170,000 loan paid to Valour last year. Muddied is definitely the word to use when discussing the connections between the teams and the stadium.
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