EDMONTON – The EE Football Team lost more than $ 7 million last year after an 84% drop in revenue from the previous year, according to the team’s latest annual report.
Board chair Janice Agrios called 2020 the “toughest year” in team history.
“These are uncertain times,” she wrote in the report. “Many have suffered and lost loved ones. But Edmonton is and always has been resilient. Our team and our fans are no different.”
The team said they had incurred “significant expenses and commitments” to prepare for playing a modified 2020 season which was ultimately called off before it could start on August 17.
The team’s revenue fell to $ 3.8 million last year after hitting $ 23.5 million the year before.
The club says it relied on the Canadian emergency wage subsidy for $ 2.5 million.
The report noted that the organization had reduced its football and business staff to a “skeleton operation” amid the pandemic.
The team is still planning for the Canadian Football League to host a 14-game season, but the report says they are considering other options if the 2021 season is also canceled.
“Each member of this organization has the following goals. Playing games in front of the fans, making the experience safe and enjoyable and presenting a championship-caliber football team, ”wrote Chris Presson, team president.
The team has not given any indication as to when it will reveal its new name.
“The team will take to the pitch this year with a new name,” Agrios wrote. “We hope to be able to announce a new name soon.”
The team previously said they plan to reveal their new branding this spring.
The CFL expects to return this year with a full 18-game season, but has delayed its scheduled start to Aug. 5 and reduced its schedule to 14 games.