The Winnipeg Blue Bombers announced their 2020 financials on Monday, revealing $7 million in overall losses for last year.
It represents a $32.3 million revenue decrease from 2019.
Because of the ongoing COVID-19 pandemic, the 2020 Canadian Football League season was cancelled.
"Financially, 2019 was a strong year for the Winnipeg Football Club,” club CEO Wade Miller said in a statement. “To have such positivity in 2019 with our financial results and winning the 107th Grey Cup Championship and then to not play football in 2020, it was truly disappointing for our players, our staff and our fans."
With no events held at IG Field since February of 2020, the club incurred $3.4 million in losses related to the operation of the stadium. In order to offset the losses, the team says it renegotiated some vendor contracts, reduced labour costs and accessed government programs related to pandemic assistance.
Still, Miller says the club remains on firm ground.
“The club entered 2020 on very solid financial footing with net assets of $12.9 million, including an operating reserve of $4.1 million,” Miller said. “We will weather this storm and get back on the field to defend our Grey Cup Championship for our incredible fans. The support that our season ticket members and corporate partners have shown us over this past year is overwhelming."
On Sunday, Miller told Jeff Hamilton of The Winnipeg Free Press that the Blue Bombers intend to host fans in 2021 with a plan to scale up the number of attendees as the season goes along.
“It comes down to developing a comprehensive plan to restart our stadium, for the safety of our fans, staff and players, which is paramount all the time and it’s consistent with what we do at the Winnipeg Football Club,” Miller said.
Currently, the 2021 CFL season is set to kick off on June 10 with the Bombers hosting the Hamilton Tiger-Cats in a rematch of the 107th Grey Cup.