Roughriders' profit reaches all-time high of $10.4M, AGM hears
The Saskatchewan Roughriders made a profit of $10.4 million last season, according to information released at the club's Annual General Meeting Tuesday. It is a franchise record.
Craig Reynolds, the Roughriders’ Chief Financial Officer, noted the figure includes "a net profit of $9.3 million from hosting the 2013 Grey Cup."
The team won the CFL Championship game before a home crowd and benefited from a week-long series of revenue-generating events.
Roughrider merchandise also played a significant role in the club's finances. Merchandise sales, including sales of Grey Cup items, exceeded $13 million last year.
The Roughriders also noted they are continuing to put money aside so they will be ready to pay for their capital contribution — $40 million — to Regina's new football stadium which is under construction and slated to open in 2017.
The club is contributing $25 million for the $278 million stadium. Another $15 million will be spent on team spaces, including offices and training rooms.
With files from CBC's Adrian Cheung