Riders post an operating loss of $1.1 million in 2023-24

The Saskatchewan Roughriders posted a loss in the balance sheets in 2023.

According to a report on the team’s website, a financial summary indicates the team suffered an operating loss of $1.1 million in the 2023-24 fiscal year.

It was the second year the team went 6-12 after a seven-game losing streak. The CFL club also missed the playoffs for a second year.

The summary says, “Overall, 2023-24 was a year where the Club’s revenues were impacted by a challenging on-field performance along with the economic factors of high inflation and interest

rates. The Club managed expenses to the extent possible, however, the overall result was a net loss from operations.”

The summary indicates the team had total revenues of $35.6 million with expenses of $36.7 million, resulting in a net loss of $1.1 million.

It also said, “The club had a positive Earnings Before Interest and Depreciation of $1.5 million. The Club still has a strong balance sheet with net assets of $49 million and a Stabilization Fund which has seen the balance increase to $9.6 million.”

At last year’s annual general meeting, the team reported an operating profit of around $7.2 million.

This year’s annual general meeting is set for June 18.