Quote:
Originally Posted by JHikka
The owner is quoted as saying otherwise - that the team was only profitable for the one year they hosted the Grey Cup under the previous GC revenue-sharing platform. Every other year they lose money.
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If pro sports teams depended solely on revenues exceeding expenses consistently each and every year just to survive, they'd disappear tomorrow. As you yourself have alluded, there are other financial benefits that can be realized even if the team is not profitable in the strict sense of the term. You cited growth in franchise values which is the most obvious one. I'm sure there are other possible reasons... tax shelter? As a means to other ends? Who knows, I'm not Wetenhall's accountant. But rest assured that if it wasn't in Wetenhall's financial best interest to keep the team, he would have left a long time ago. There is simply no way that a rich American guy with no known connection to the CFL would absorb losses for years and years if there wasn't some tangible benefit to him.
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