WFC Makes $4.5 Million Payment
Published on December 30, 2014 under Canadian Football League (CFL)
Winnipeg Blue Bombers News Release
WINNIPEG, MB., December 30, 2014 - The Winnipeg Football Club today announced it has made a $4.5 million payment to Triple B Stadium Inc. on its new home at Investors Group Field.
"We are serious about and committed to meeting our financial targets," said Wade Miller, President and CEO of the Winnipeg Blue Bombers. "We extend our appreciation to our fans and sponsors who supported us with high attendance and generous corporate partnerships throughout the football season."
Miller said the WFC was able to meet its financial targets thanks in part to the strength of the CFL as a whole, but more importantly by drawing on business operations as its major source of revenue. Other income was derived from hosting sporting events such as the Canada vs. USA women's soccer friendly and major concerts performed by Beyoncé, Paul McCartney and Taylor Swift.
The payment is made up of entertainment tax, facility fees, and excess cash as defined by the Management Agreement between WFC and Triple B Stadium Inc.
"From the outset, the goal of the partnership between the Province, City, University of Manitoba, and Blue Bombers was to create a world-class sports and entertainment facility that would allow the WFC to financially sustain itself by hosting a wide range of events and activities," said Miller. "Today's payment proves that approach is working."
Investors Group Field is the home of the Winnipeg Blue Bombers, the University of Manitoba Bisons and the Winnipeg Rifles, and plays host to many amateur sporting events. Miller added that everyone is excited about 2015 as Investors Group Field gets set to host the CFL's 103rd Grey Cup, FIFA Women's World Cup Soccer, along with more concerts in the future.
Canadian Football League Stories from December 30, 2014
- WFC Makes $4.5 Million Payment - Winnipeg Blue Bombers
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