Opinion Piece - Should the Bombers seek private ownership?

Discussion in 'CFL League Talk' started by Rids, Sep 6, 2012.

  1. Rids

    Rids Member

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  2. deuvl

    deuvl Moderator
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    sounds like a good idea.
     
  3. iso_55

    iso_55 Member

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    Anything is better than the 3 ring circus that the Bombers have now. Only thing is private ownership isn't always the answer. Look at the slew of owners in Toronto, the Feterik era here & the Glieberman's in Ottawa. The grass isn't always greener if you know what I mean.
     
  4. Bronko

    Bronko Member

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    You guys woulda chucked your breakfast listening to Joe Mack babbling this a.m. Basically, a formulaic press conference where Mack neither praises nor blames, just a lot of ho-hum.

    As for a private owner. Heres the deal. The first priority would be to ascertain the exact position of the team prior to conversion.

    How much money in the bank? How much obligation to the provincial govt. regarding the mortage obligation.

    Nobody in their right mind would pay 5 to 10 million dollars for the team and have the obligation to pay back an impossible mortage. There's just not enough coin in the tank to pay back 4 to 5 million a year plus make an operating profit to sustain the organization.

    However, lots of greedy business types would love to put out only 5 or 6 million and get gifted the new stadium, all concessions, all concert revenues, advertising, sky boxes, to boot.

    Thats a no-brainer. However, based on some quick calculations from yours truly a private owner would probably have to come up with somewhere in the neighborhood of 40 to 75 million to get the team and the stadium. Plus, they'd also have to pay part of their gross to the govt. to repay the loan Sicko Selinger gave the bombers. That loan has virtually no chance of being repaid by the community team, a little more from a private group.

    Everyone wants a FREE stadium. Few want to be saddled with the debt obligation charged with owning the football team.

    For now, the secretive masonic like society known as the Wpg Football club will continue doing what they've always done. LOSE MONEY & BEG HARD.
     
  5. iso_55

    iso_55 Member

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    I read the tweets the Winnipeg media were making. Didn't sound too good. The only ones who think Mack is still great are the koolaid drinkers on Our Bombers. Another loss this weekend & the numbers will get less & less.
     
  6. Bronko

    Bronko Member

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    The Banjo Bowl is a seminal game for the organization. If they lose badly or get thrashed hard the final few home games will have some poor walk-ups and the team will earn 60 to 90% less than the 3 million profit of 2011.

    Back to the private owner question.

    I suspect if the current bomber structure collapses and defaults or begs off the mortage repay the province/city will set up an independent stadium authority to run all aspects of the new facility including advertising, ticketing, box seating, concessions, parking, non-sports bookings/concerts, etc.

    The Bombers would then simply become a spot tenant of the new facility, much like the U of M Bisons (the bisons would almost get free use of facility because their attendance is insignificant and there merch sales are relatively low)

    The independent stadium authority (appointed by government) would then generate revenues from a multitude of sources and create its own revenue/profit sources, much of it going to pay back the 150 to 200+ million in mortage financing.

    The Bombers would revert to the old model of a community team (or possibly private) who's revenue sources are limited to ticket sales, advertising, merchandise, special events, a Grey Cup every 10 years, TV contributions (although the TV could easily be split between a new stadium authority and the team if need be)

    The current bombers are about 12 to 24 months from looking a gift horse in the mouth and spittingit out....
     

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