The Edmonton Eskimos announced a profit north of $1.4 million Tuesday at their Annual General Meeting held at Commonwealth Stadium. The organization says their net profit from operations was over $2.1 million.
The club’s operating revenue for 2016 was $23.5 million, a decline of 5.4 per cent, mainly due to the Eskimos hosting and winning the West Division final in 2015 and then winning the Grey Cup Game. The Eskimos crossed over into the East Division last season and secured revenues of 30 thousand dollars compared to 1.7 million in 2015.
President and CEO Len Rhodes the organization is finding a way to stay strong in tough financial times.
“The financial side is actually very strong, we were in a tough economy last year but our net profit from operations is $2.1 million and we’re very, very pleased with that,” Rhodes said. “It allows us to continue to be sustainable and always putting things right back into the operations, capital projects, and supporting things like amateur football.”
Average attendance in 2016 for the Eskimos was announced at 30,684 which is a 2.6 percent decline from the previous season. Gate revenues did increased by 3.5% from 2015 as a result of having 10 home games compared to nine the previous year.
The Eskimos spent $3.2 million on capital projects to make improvements to Commonwealth Stadium and the game-day experience. The team announced a donation of $695,000 to amateur football in 2016 through their 50-50 program.
The Board of Directors appointed Brad Sparrow as the chairman as John Moquin’s term as chair has come to an end. Also former Eskimos receiver Tom Richards was named to the Board of Directors marking the first former player in the modern era to be named to the Board.