On Wednesday, the Saskatchewan Roughriders held their annual general meeting (AGM), and it seems as though the team is starting to rebound from a crushing few years amid the COVID-19 pandemic.
The total operating net income for the year was $7.2 million. $3.8 million was from the Riders’ season, while $3.3 million came from hosting the Grey Cup.
“The opportunity to play a full season along with strong support from our fans, partners and stakeholders have allowed us to recover from the financial challenges we faced not too long ago,” said Saskatchewan Roughriders Chief Financial Officer Kent Paul.
Paul said the opportunity to play an 18-game season of football was the primary driver of revenue and expenses growth compared to the previous 14-game season, and the non-existent season before that.
Perhaps one of the biggest reasons for the boosted financial success came from hosting the 109th Grey Cup. Even though the Riders weren’t in the game, people from across the country walked through the doors of Mosaic Stadium.
“In 2022-23, the club had excess revenues over expenses from operating activities of $3.9 million compared to that same amount in the prior year,” Paul said. “When you factor in the results of the 2022 Grey Cup, the club experienced excess revenues over expenses of $7.2 million. The club’s revenues resulted in a total of $40 million, an increase of $6 million from the prior year.”
But moving into the 2023 season, season ticket sales are down, something the Riders say is a factor of affordability and the fallout of hosting a Grey Cup.
Paul said many teams across the league see a drop in season ticket sales after hosting a Grey Cup, since pre-cup sales are boosted by those who get season tickets simply so they have the first crack at buying Grey Cup tickets.
As for affordability, that’s something the Riders say is proving difficult to battle, considering inflation, cost of living and the state of the economy.
The team has pushed for more family affordability with 9,000 seats receiving cheaper ticket prices and a $5 menu item being introduced at every vendor in the stadium.
“Everyone would love everything to have a lower price point, but there’s also incremental costs, especially when you look at stuff like food and beverage,” Paul said. “Even being able to introduce a $5 menu item into the stadium, our partners at REAL and the vendors worked with us to get to that point because there’s multiple factors that go into that.”
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