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February 22, 2011
The Edmonton Eskimo Football Club today at their Annual General Meeting released their financial results for the year ending December 31, 2010.
Operating Income for the year was $173,818, a decrease of $335,056 from 2009. Operating Revenues were up $524,000 (3.4%) and Operating Expenses were up $859,000 (5.8%). Football operations accounted for a significant portion of the increase in Operating Expenses, due to an escalation in the CFL salary cap, 9-Game Injury costs and the dismissal of the club’s general manager and coaching staff.
The Club also announced a Consolidated Net Loss of $2,343,311 which resulted from substantial financial gifts to the City of Edmonton for the Eskimos’ contribution of nearly $1.3M towards the new playing surface at Commonwealth Stadium and $7.5M towards the construction of the Commonwealth Community Recreation Centre.
The Edmonton Eskimo Football Club shareholder’s elected Chris Bruce, Vice President Edmonton Region, Scotiabank and Brad Sparrow, President, Eden Textile, as Directors for a three-year term and re-elected Allan Sawin, President, Bear Investments and Bill Scott, Senior VP, Sales & Marketing, All Weather Windows to a further three year term as Directors.
The Board of Directors elected Allan Sawin as Chairman, Bruce Bentley as Treasurer and John Moquin as Secretary.
Doug Goss and Larry Pollack have concluded their terms on the Edmonton Eskimo Board of Directors.