3DownNation says 2021 Season May Not Happen

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Murdoch
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Re: 3DownNation says 2021 Season May Not Happen

Hambone wrote: Sat Feb 13, 2021 9:38 pm I don't think any franchises are sellable unless owners are willing to accept pennies on the dollar.
As the CFL was willing to do with Montreal.


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Hambone
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Re: 3DownNation says 2021 Season May Not Happen

Murdoch wrote: Wed Feb 17, 2021 5:05 am
Hambone wrote: Sat Feb 13, 2021 9:38 pm I don't think any franchises are sellable unless owners are willing to accept pennies on the dollar.
As the CFL was willing to do with Montreal.
Makes a difference when the remaining 8 teams have to dig into their own pockets to cover the operation of any team the CFL takes over. There quickly becomes a point when they tell the league to sell the team or fold it because they will no longer cover it. The Bombers 2019 Annual Report showed it cost them $657,600 for their share to operate the Alouettes under CFL ownership, just for their 2019 fiscal year.


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Re: 3DownNation says 2021 Season May Not Happen

Hambone wrote: Sat Feb 13, 2021 4:34 pm
Qman wrote: Sat Feb 13, 2021 3:17 pm
both Ex-imos and Riders have over $20million sitting in the bank.
Have over $20M? Or had as of last year's annual reports before Covid started eroding their cash reserves. The notoriously the grass is always greener in Saskatchewan Rider fans seem to be of the belief their Stabilization Fund has all but been exhausted. It had already shrunk considerably prior to Covid due to their own obligations towards Mosaic 2.0.
maybe a small erosion
Ex-imos fired everyone after CWES ended, even a 49yr employee. 2019 they made $2million off their investments.

Riders run on $39M of operating expenses when every other team runs on around $20-25 miliion. You don't think there is fat that can be trimmed.


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Re: 3DownNation says 2021 Season May Not Happen

The Riders lost money in 2019 and expected to use up all of their stabilization fund of $7.6 million in 2020, and that was before the season was cancelled.

https://www.google.ca/amp/s/globalnews. ... ances/amp/


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Re: 3DownNation says 2021 Season May Not Happen

B.C.FAN wrote: Wed Feb 17, 2021 4:36 pm The Riders lost money in 2019 and expected to use up all of their stabilization fund of $7.6 million in 2020, and that was before the season was cancelled.

https://www.google.ca/amp/s/globalnews. ... ances/amp/
first, they only lost money because the gave $1.2m to charity.

The still have $10million outside the stabilization fund. Plus you spend over $10-15m more on non-football expenses than every other team, its pretty easy to trim those costs and bank the profits. Unfortunately, its hard to fire people when have all that money sitting in the bank


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Re: 3DownNation says 2021 Season May Not Happen

Qman wrote: Wed Feb 17, 2021 5:03 pm
B.C.FAN wrote: Wed Feb 17, 2021 4:36 pm The Riders lost money in 2019 and expected to use up all of their stabilization fund of $7.6 million in 2020, and that was before the season was cancelled.

https://www.google.ca/amp/s/globalnews. ... ances/amp/
first, they only lost money because the gave $1.2m to charity.

The still have $10million outside the stabilization fund. Plus you spend over $10-15m more on non-football expenses than every other team, its pretty easy to trim those costs and bank the profits. Unfortunately, its hard to fire people when have all that money sitting in the bank
Roughly $5M of those non-football expenses the Riders have more than other teams are used to operate 4 Rider store retail outlets; 1 at Mosaic, 1 in a Regina and 2 more in Saskatoon. I don't know if any other teams operate actual retail stores. The Riders did however close one of the Saskatoon stores just prior to the end of their last fiscal year. I believe that decision was made prior to the Covid outbreak thus the two weren't related.

Riders showed Merchandise expenses of $5.67M in 2019-20 and $6.43M in 2018-19. Conversely EFC showed Merch expenses of $963K in 2019 and $1.067M in 2018. The Bombers lump Game Day, Merch and Concessions together making a comparison impossible.


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Re: 3DownNation says 2021 Season May Not Happen

Hambone wrote: Sat Feb 13, 2021 9:38 pm I don't think any franchises are sellable unless owners are willing to accept pennies on the dollar.
For the beneficiaries of Braley's estate, it might be in their interests to get what they can now so they can recoup at least some of the money Braley set aside for the team. They won't get much for the team when the money's gone.


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Re: 3DownNation says 2021 Season May Not Happen

maxlion wrote: Wed Feb 17, 2021 11:02 pm
Hambone wrote: Sat Feb 13, 2021 9:38 pm I don't think any franchises are sellable unless owners are willing to accept pennies on the dollar.
For the beneficiaries of Braley's estate, it might be in their interests to get what they can now so they can recoup at least some of the money Braley set aside for the team. They won't get much for the team when the money's gone.
I don't think the price the Lions fetch be it $2M or $20M will be more than a drop in the bucket in the grand scheme of Braley's estate. If anything the sale of the team would be like taking care of a loose end. The sense I got from reading the article is that while the Estate has been holding some discussions with potential groups any sale is unlikely to be completed in the near future due to obvious reservations any prospective buyer would have about owning a CFL team under Covid fan restrictions. An offer today would be for a "as is, where is" franchise with a very real risk that you could wind up with nothing for your purchase price while having to cover all operating expenses and losses between now and when the CFL can operate with full attendance..........or folds.


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Re: 3DownNation says 2021 Season May Not Happen

did Bob Young really offer to bankroll the entire CFL losses last year?... why didn't they take him up on it? why would he do that?... would they have had to pay him that money back over time?

i saw reference to someone saying that maybe the CFL should just have one league-wide owner. for some reason that appeals to me.... some local representation and/or minority shareholders......

i really think the CFL needs aggressive modern marketing....... Telus was amazing that last few years with some of the door-to-door salesmen they sent out. pretty knowledgable. very professional (a bit fasting talking tho). and very aggressive. and it seems like they got results. i don't think the CFL should have door-to-door sales people. but way way more aggressive sales people. and leave no rocks unturned.


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