Blue Bombers score major profit after another winning season

The Winnipeg Blue Bombers lost the Grey Cup but they keep winning at the gate.

The CFL club announced it posted a net operating profit of $5.7 million in 2023, a season that saw it finish atop the West Division for a third straight year, ending with a 14-4 record in the regular season.

The not-for-profit franchise also made a fourth straight Grey Cup appearance, dropping a 28-24 decision to the Montreal Alouettes at Tim Hortons Field in Hamilton.

Winnipeg announced its 2023 profit Thursday while releasing its annual report. That builds on a $4.9-million profit in 2022 and a profit of $2.1 million in 2021.

Wade Miller, CEO of the Blue Bombers, attributes the success to a mix of the team's momentum on the field since 2021 and the experience of attending a game.

"It's a great atmosphere in the stadium," he told CBC on Thursday. "We're glad to be able to set our stadium up in a way that there's an experience for everybody."

In the latest annual report, revenue totalled $50.5 million in 2023, up $5.1 million (11.2 per cent) over 2022.

The club's gate receipts increased to $15.1 million (9.6 per cent ahead of last year) while game-day, merchandise and concessions revenue hit $11.5 million (10.5 per cent increase).

"I truly believe that we're very lucky in our city to have such great sports fans and a business community that, you know, really steps up and supports as well," Miller said.

The Bombers sold out five games in a row at the 32,000-seat Princess Auto Stadium last year, and had seven other games with over 30,000 in the crowd, according to Miller. Average attendance was about 30,500, he said.

Since the franchise is a not-for-profit, the first $10 million made by the team is always held for the operating reserve, Miller said.

"The rest goes to our capital fund [to] fund the projects around the stadium to make sure that the stadium is going to last for decades to come."

Bombers up, Valour FC down

However, the numbers continue to look bleak for Valour FC, the Winnipeg-based Canadian Premier League soccer club owned and operated by the Blue Bombers.

The report says that Valour lost $1.25 million last year and said the club's finances continue to be uncertain. 

In 2022, the Bombers reported a $950,000 loss from operating the soccer team.

"We need better results on the field to help that," Miller said.

It's hoped a change in general manager and head coach will help Valour's performance, he said.

There's also still a lack of awareness about professional soccer in Winnipeg, said Miller.

"The first year for this league was 2019, right? And then the world went a little upside down after that, and we just haven't regained that traction yet or the awareness as well."