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Edmonton Eskimos post $1.4M profit in 2016

The Edmonton Eskimos practice at Commonwealth Stadium in preparation for their final pre-season game, Tuesday, June 14, 2016. Wes Rosa, Global News

The Edmonton Eskimos posted a profit exceeding $1.4 million last season, the community-owned CFL club announced Tuesday in its annual general report.

According to treasurer Brad Sparrow’s report, the Eskimos’ net profit from operations was $2,138,450. But he concluded the club’s consolidated net profit for 2016 was $1,417,795.

The Eskimos (10-8) finished fourth in the West Division last year, becoming a cross-over team in the playoffs. Edmonton beat the Hamilton Tiger-Cats 24-21 in the East Division semifinal before dropping a 35-23 decision in the conference final to the Grey Cup-champion Ottawa Redblacks.

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READ MORE: Edmonton Eskimos embrace bold new identity

Being the cross-over squad meant no home playoff games for the Eskimos.

The club’s operating revenue for 2016 was $23.5 million, a decline of 5.4 per cent. That was mainly due to Edmonton hosting and winning the West Division final in 2015 en route to beating Ottawa in the Grey Cup.

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By crossing over to the East, Edmonton secured playoff revenues of $30,000 compared to $1.7 million in 2015 for hosting the West final, then playing in and winning the Grey Cup.

The good news is the club’s gate receipts increase $3.5 per cent, or $298,000. Corporate sponsorship revenues were also up by 8.3 per cent.

“Our primary focus is to attract new fans,” president Len Rhodes said in his report. “We are a gate-driven league and our largest single source of revenue is ticket sales.”

READ MORE: Brock Sunderland unveiled as new GM and VP of Football Operations for Edmonton Eskimos

Edmonton’s total operating expenses were $21.3 million, a decrease of $1.5 million or 6.5 per cent. The Eskimos also finished under the CFL’s $5.1-million salary cap.

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