The Winnipeg Blue Bombers are in the red, recording a $758,307 loss in 2012 on Tuesday.
The football club revealed their annual report at Canad Inns Polo Park, saying due to “exceptional” costs for stadium development and a loss from the write-down of Canad Inns stadium assets, it couldn’t remain in the black.
“Due to the nature of having two facilities on the go at once, we had some challenges that affected us financially,” said Blue Bomber president and CEO Garth Buchko.
“That said, with the move to Investors Group Field now complete, we have much to build off of in the coming year and are looking to the future with a single minded focus on fan satisfaction and revenue opportunities in 2013.”
However, the club recorded an operations surplus of $726,930 last year.
The Bombers’ also announced the appointment of Brock Bulbuck — president and CEO of the Boyd Group Income Fund — as chair of the board of directors. Bulbuck’s three-year term will see him replace outgoing chair Bill Watchorn, who joined the board in 2002.
Bulback said he will bring more openness and transparency to the football club.