WINNIPEG — They make their living playing a Canadian game.
So naturally, CFL’ers are paid in Canadian funds.
“I always expect a bunch of bills when I’m getting change,” said linebacker Khalil Bass. “But instead it’s all loonies and toonies.”
Coins that are now worth much less to some of the Winnipeg Blue Bombers. The Canadian dollar tumbled to an 11-year low Thursday morning before rebounding to 75.09 cent US. Americans playing north of the border are among those feeling the hit.
“We’ve got a lot of guys that have kids back home,” said defensive tackle Bryant Turner. “So it’s basically taking food out of their mouth with the dollar being such a big difference.”
The minimum wage in the league is $51,000. Those who end up making that much will take home a little more than $38,000 before taxes after exchaning it into American funds.
Financial experts say the plunging Canadian dollar is something the CFL Players’ Association should keep in mind the next time it negotiates a new collective bargaining agreement.
“A Canadian team can actually hedge their currencies a lot easier than an individual can,” said Stuart Henrickson of the University of Manitoba’s Asper School of Business. “So it doesn’t necessarily hurt the CFL team to pay in US dollars as long as they plan ahead.”
It’s something most Canadian teams outside the CFL already do to compete with their rivals from down south.
“As it fluctuates, it’s OK because they’re already locked into the US dollar equivalent,” said Henrickson.
Taking away the risk while making Canada more attractive to American athletes.
Comments