- Oops!Something went wrong.Please try again later.
The Saskatchewan Roughriders Football Club reported a significant loss of $7.5 million for 2020-21 on Saturday, after the COVID-19 pandemic forced the cancellation of the 2020 CFL season.
The club reported a much smaller net loss of $210,064 in 2020.
The Riders' latest financial report was initially presented at the club's 2020-21 annual general meeting on June 23, which was held virtually.
According to the report, the cancellation of the Canadian Football League's 2020 season led to a dramatic 74 per cent drop in the club's total operating revenues.
Revenues dropped to $10.3 million in 2020-21 from $39.6 million in 2019-20.
The club said that of the $10.3 million recorded in revenues, $3.9 million was related to federal government programs, such as the Canadian employment wage subsidy and the Canadian emergency rent subsidy.
Meanwhile, operating expenses decreased to $18.7 million from $39.7 million in the year prior. The club says the reduced costs were due to the cancelled season and expense savings across all areas, including a more than 30 per cent reduction in employees and pay cuts.
A shortened 2021 season is set to start in early August for the Roughriders.
Earlier this month, the CFL released a 14-game schedule that will end with the 108th Grey Cup championship in December.
The Riders' first game will take place at Mosaic Stadium in Regina on Aug. 6 against the B.C. Lions. It will be the first of three consecutive home games for the Regina-based team.
Going forward, the club said it is facing a $6 million cash-flow deficit from its operations. That number is projected to increase in 2021 as the Riders recover from the pandemic.