REGINA - The Saskatchewan Roughriders have turned it around financially following the return of CFL play in 2021.
The club held its Annual General Meeting on Tuesday. According to the club’s financials listed in its Annual Report, the Roughriders posted an operating profit in 2021-22 of $3.9 million, compared to an operating loss of $8.4 million in the prior year.
For the previous two years together, the club has a operating loss of $4.5 million.
In 2021-22, when including the Club’s non-operating activities, the Club recorded a $13.3 million profit when compared to a loss of $7.5 million the year before.
The return of profitability coincides with the return of football in 2021, with a shortened season of 14 games after a cancelled season in 2020 due to COVID-19.
According to the club, the shortened season impacted gate receipts and game day revenues, but the club was helped by hosting the West Semi-final and by merchandise and sponsorship revenues.
The Roughriders also continued to access the federal government’s Canadian Emergency Wage Subsidy (CEWS) throughout the first half of the year, which allowed the Club to maintain operations until the season returned.
The return of football in 2021 significantly helped the revenue situation for the Roughriders. They reported total gross revenues of $33.8 million in 2021-22 compared to $10.3 million in 2020-21.
The return of football also meant more operating expenses, which increased to $29.9 million compared to $18.7 million the year before.
In his remarks published in the club's Annual Report, Roughriders President and CEO Craig Reynolds gave an upbeat assessment of the club's finances.
“A year ago, as I was penning this message we were still in the throes of uncertainty. We did not know for sure if the pandemic was going to allow us to play football and if it did, what that was going to look like for our players and for our fans.
“Today, I am able to reflect with much more optimism. While 2021 wasn’t without its challenges, we were able to execute a shortened 14-game season, fill Mosaic Stadium with our fans, and take several strong steps forward in our financial recovery from 2020.
“The league also got to work – reevaluating its business plan and looking at new ways we could work together to make the entire CFL more successful and more profitable. From this came a new partnership with Genius Sports, a company considered an industry leader in sports technology and gaming. I truly believe this new partnership is going to bring a lot of excitement and innovation to our league and I come out of these last two years more optimistic and energized about our future than ever.”
