The Saskatchewan Roughriders can use “back-to-back” in a cheerier context, thanks to a robust start to the 2024 season.
After finishing with a 6-12 record in each of the past two years, the Green and White carries a 2-0 slate into its home opener for the first time in franchise history.
“Winning definitely impacts your organization in a positive way,” President-CEO Craig Reynolds said in advance of Tuesday night’s Annual General Meeting. “Certainly, it impacts in a positive way financially.
“We’ll hopefully see a build, if you will. That’s what we’re anticipating as the team builds momentum. We’re obviously off to a really good start, so we hope to see that ultimately result in positive financials.”
The team cited on-field performance, high inflation and interest rates as the major contributors to the $1,103,872 deficit that was recorded in the 2023-24 financial year, which ended March 31.
“You can’t underestimate the effect the economy has had on our business, because we’re dealing with disposable income,” Chief Financial Officer Kent Paul said.
“We’re not selling bread and milk. People have less money and sometimes they have to make choices.”
The Roughriders are doing their utmost to make those choices easier by offering fans several affordable options.
“The Club is looking to provide support as much as it can by continuing to provide $99 family ticket packages and introducing youth pricing at 50 per cent off regular prices,” Paul noted.
“Last year, the Club also reduced the price of tickets on 9,000 seats. We’re continuing to offer $5 beer and $5 menu items and family meals at concessions while overall minimizing any price increases to be below the overall rate of inflation.”
At the same time, management of the community-owned CFL team is trying to balance affordability and the desired outcome of profitability.
“It’s what every pro sports team is faced with and challenged with and tries to balance,” Reynolds said. “You’re always looking at both volume and revenue and you’re trying to balance those things.
“You’re also trying to make sure that your pricing is providing good value. That’s what every pro sports team is trying to do — trying to maximize yield, if you will — and it’s a constant battle that way.
“We work hard every day to look at whether our pricing is right. Kent mentioned that we re-scaled the stadium more recently and that was a response to what we felt were some sections that we needed to adjust.
“As well, we need to make sure that we’re offering affordable options, so the family pack and youth pricing fit in with the strategy of trying to get more families and youth to our games.”
The Roughriders’ overall business strategy has allowed them to withstand a deficit and post positive results in other areas of the ledger.
For example, the team added $500,000 to its Stabilization Fund, which now sits at $9,645,190 — higher, in fact, than it was before the pandemic.
Additionally, the team was $1,505,389 in the black when a key measuring stick known as EBIDA (Earnings Before Interest, Depreciation and Amortization) was calculated.
The team’s net assets stand at $49,187,159.
“The Club continues to have a solid financial foundation,” Paul emphasized.
“We have a very stable financial model and the best stadium in the country.”
Since moving into new Mosaic Stadium in 2017, the Roughriders have announced three deficits — including those that were announced while the league was on hiatus in June of 2020 and 2021.
COVID-19 resulted in the cancellation of the 2020 CFL season and the shortening of the 2021 campaign.
The Roughriders rallied impressively by announcing surpluses of $3,883,291 (on Aug. 20, 2022) and $3,883,046 (June 21, 2023).
The latter figure did not include $3,301,882 in proceeds from the 2022 Grey Cup Festival, which was held in Saskatchewan.
“COVID had a bigger impact on us than I think we probably recognized,” Reynolds said, “and that’s in the community outreach.
“When you go basically two years without having players out in the community, and without any of the organization being able to do any community outreach, I think it sets us back a little bit.
“Now we’re doubling down on that through the Saskatchewan Roughrider Foundation and getting our players out. It’s really important to re-establish that connection.
“I think those two things, working in tandem with an improved product on the field and a team that resonates with and reflects the fan base, are critically important.”
The AGM, held at the Conexus Arts Centre, leads up to Sunday’s home opener against the Hamilton Tiger-Cats (5 p.m., Mosaic Stadium).
Saskatchewan, under the direction of first-year Head Coach Corey Mace, improved to 2-0 by winning 33-30 in Hamilton this past Sunday.
Reynolds is aware, though, that winning isn’t a cure-all. That was evident during the 2023-24 NHL season, in which the Winnipeg Jets won 52 games while lamenting empty seats at a once-sold-out arena.
Comparable issues have been encountered by various teams across the professional sports spectrum.
“I think (we account for that) a little bit, but we’ve got to do the work ourselves,” Reynolds stated.
“Corey’s got the ‘Build It’ phrase. We’ve got to build it ourselves. We’ve got to do everything we possibly can, whether that’s marketing or responding to affordability challenges or, certainly, the product on the field.
“We’ve got to do everything we possibly can to make sure we’re getting fans here. Ultimately, our financials are based on our fan base. We get tremendous corporate support, but the fans drive our financials (with gate receipts accounting for 40 per cent of revenues).
“We need to do the work here. Obviously, you pay attention to what’s going on in the world. This is not a Roughrider problem by any stretch. We’re seeing this across the board.
“I believe in a couple of things. I believe in our fan base. We’ve got a really passionate fan base that’s very proud of this football team. So I believe in Rider Nation and I believe in the team we have as well.
“We’ve got an outstanding team that works hard every day to try to deliver the best product we can, to try to get engaging content out to our fans, and we try to deliver for our fans.”
• Andrew MacCorquodale has joined the Roughriders’ Board of Directors. He succeeds Rob Vanderhooft, who stepped down for business reasons, and will complete the final two years of his three-year term. Mackenzie Kilshaw, Doug Hodson, Edmund Bellegarde and Susan Flett were elected to new three-year terms. Dave Pettigrew, Terri Strunk, Greg Yuel, Blair Ross, Regan Exner and Rhonda Ekstrom all have time remaining on their terms. Pettigrew enters his second year as the Board Chair.
• The AGM was attended by four former volunteer Presidents or Chairs: Barry Clarke, John Lipp, Wayne Morsky and Rob Pletch. Clarke chairs the Nominating Commitee.
• Via the Saskatchewan Roughrider Foundation, $1.2 million was donated to amateur football in Saskatchewan during the 2023-24 financial year.
