The Winnipeg Blue Bombers are in the black after posting an overall operating profit of $4.9 million in 2022.
The Winnipeg Football Club on Thursday released its latest financial results, which reported $45.4 million in total revenue last year.
“We are extremely proud of our overall financial results for 2022,” said Bombers’ president and CEO Wade Miller. “These results are a testament to the unwavering support of our season ticket members, corporate partners, and fans.”
The Bombers increased their revenue by $12.5 million over 2021, a result of playing a full football season as opposed to the shortened season of seven regular season home games in 2021. Ticket sales accounted for $13.8 million.
“We attribute these strong ticket sales to our season ticket members and fans. We had five home games where attendance surpassed 30,000 fans in 2022, matching the record set in 2013, which was the inaugural season at IG Field,” said Miller.
The Bombers’ operating expenses totalled $40.5 million, an increase of $9.8 million over 2021.
In 2021 the Bombers entered into a new agreement with the Manitoba government and Triple B Stadium Inc. that saw the establishment of a capital fund. The franchise made annual allocations of $2.9 million to the fund and $1 million to its operating reserve.
The Bombers had a capital fund balance of $11.5 million and operating reserve balance of $5.6 million as of Dec. 31, 2022.
Winnipeg recorded an impairment loss on the loan receivable from Valour FC Inc. of $950,000 as the Canadian Premier League team’s estimated future cash flows continue to be uncertain.
— With files from The Canadian Press