Saskatchewan Roughrider President and CEO, Craig Reynolds and Chief Financial Officer, Kent Paul were front and centre at the team’s Annual General Meeting on Tuesday night.
Their financial update from the 2023 season showed a $1.1-million operating loss. The biggest dip in revenue year-over-year was a $1.9-million shortfall in ticket sales.
Reynolds admitted that a 6-and-12 team on the field was a factor but also pointed to the strains in family budgets with external economic challenges like inflation and interest rates putting pressure on attendance figures.
While, the Riders did report a loss Paul, noted that the team’s stabilization fund was able to grow by $500-thousand to $9-point-6 million. He also pointed out that that the team’s EBITDA (Earnings, Before, Interest, Taxes, Depreciation and Amortization) which was actually up year-over-year.
The Green and White have already implemented some strategies to further activate the fan base, from an increase in community appearances, to the growth of the elementary school reading program and more family friendly pricing options.
INSIDE THE NUMBERS:
- The 2023 season saw a decline in overall gate receipts from $15.9 million in 2022 to $14.0 million in 2023. The decline was driven by a decrease in season tickets, a free game for MVP holders, offset by an increase in single game and group sales.
- The Club’s Sponsorship revenues decreased to $8.0 million compared to $10.5-million in the prior year, however the prior year included one-time areas of support largely related to hosting the 109th Grey Cup.
- Overall, the Club’s expenses increased to $36.7 million during the year compared to $35.8 million in the prior year. The primary increases were in Football Operations driven by injured player salaries, training camp, travel and other season-related costs. Merchandise expenses increased related to an increase in merchandise costs associated with increased sales.
Comments