Music: {allcanada} ESKIMOS POST FINANCIAL LOSS OF MORE THAN $2 MILLION IN 2010

Tuesday, February 22, 2011

{allcanada} ESKIMOS POST FINANCIAL LOSS OF MORE THAN $2 MILLION IN 2010

EDMONTON -- The 2010 season was one to forget on and off the field for the Edmonton Eskimos.

The Eskimos, who finished out of the West Division playoffs last season, also posted a financial loss of $2,343,311, the community-owned franchise revealed Tuesday at its annual general meeting. The deficit came despite Edmonton hosting the 2010 Grey Cup game at Commonwealth Stadium.

However, the Eskimos did pay out nearly $1.3 million towards the new playing surface at Commonwealth Stadium as well as $7.5 million that went towards the construction of the Commonwealth Community Recreation Centre.

The Eskimos' operating income for the year was $173,818, a decrease of $335,056 from 2009. Revenues were up $524,000 (3.4 per cent) while expenses also increased by $859,000 (5.8 per cent).

Edmonton's football operations department accounted for much of the increase in expenses due to an escalation in the CFL salary cap, nine-game injury costs and the dismissal of GM Danny Maciocia, head coach Richie Hall as well as his staff.

The Eskimos' shareholders elected Chris Bruce and Brad Sparrow as directors for a three-year term. In addition, Allan Sawin and Bill Scott were re-elected to three-year terms as directors.

The club's board of directors elected Allan Sawin as chairman, Bruce Bentley as treasurer and John Moquin as secretary.